Guideline Value for Valluvar Nagar

Valluvar Nagar guideline value

The current guideline value of Valluvar Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Valluvar Nagar has changed

The guideline value for Valluvar Nagar has seen several revisions over the years. In 2002, the value was Rs 150 per sq.ft, which increased to Rs 171 per sq.ft in 2003, representing a 14% rise. The value then rose significantly to Rs 350 per sq.ft in 2007, marking a 105% increase. Following this, in 2012, the value was revised to Rs 1,300 per sq.ft, reflecting a substantial 271% increase. However, it dropped to Rs 871 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 1,300 per sq.ft in 2023, before reaching the current figure of Rs 1,400 per sq.ft in 2024, an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 833%. It is important to note that the register has no figure for Valluvar Nagar for the years not listed above.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Valluvar Nagar's 2024 figure is below this median.

• Varadharaja Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Vasantham Colony: Rs 1,400 per sq.ft (2024)
• Thiruvotthiyur High Road: Rs 3,800 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 1,400 per sq.ft (2024)
• V.G.N Paradise: Rs 5,800 per sq.ft (2024)
• Thiruvalluvar Nagar/Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total cost Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valluvar Nagar?

The Sub Registrar Office that covers Valluvar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ernavur

The guideline value is a crucial factor in property transactions in Ernavur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value serves as a basis for calculating the fees. It is essential for both parties involved in the transaction to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Valluvar Nagar?

The current guideline value of Valluvar Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 833% over this period.

What is the land classification of Valluvar Nagar?

Valluvar Nagar is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty rates for property in Valluvar Nagar?

The stamp duty for property in Valluvar Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Valluvar Nagar located?

The Sub Registrar Office for Valluvar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.