Guideline Value for Valluvar Pettai

Valluvar Pettai guideline value

The current guideline value of Valluvar Pettai, located in Issa Pallavaram village under the Pallavaram SRO, is Rs 4,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - II land classification.

How the guideline value of Valluvar Pettai has changed

Over the years, the guideline value for Valluvar Pettai has seen significant changes. Starting from the 2003 revision, where the value was Rs 543 per sq.ft, it increased to Rs 900 per sq.ft in 2007. The value then saw a substantial rise of 344% to reach Rs 4,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,680 per sq.ft in 2017. The 2023 revision marked an increase to Rs 4,000 per sq.ft, followed by a 10% rise to the current value of Rs 4,400 per sq.ft in 2024.

There is no figure available for the 2002 revision for this street. Overall, from 2003 to 2024, the guideline value has increased by 710%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Valluvar Pettai is above this median.

• Thiru.Vi.Ka. Street (poli chetty street): Rs 3,850 per sq.ft (2024)
• Thiruneermalai Road (PART): Rs 4,400 per sq.ft (2024)
• Vinayakar Koil Street: Rs 3,300 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)
• Xavier Street: Rs 2,200 per sq.ft (2024)
• Syed Line: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Valluvar Pettai?

The Sub Registrar Office that covers Valluvar Pettai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Valluvar Pettai?

The current guideline value of Valluvar Pettai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 543 per sq.ft in 2003 and reaching Rs 4,400 per sq.ft in 2024. The most recent change was a 10% increase from Rs 4,000 per sq.ft in 2023.

What is the land classification of Valluvar Pettai?

Valluvar Pettai falls under the Mixed Type - II land classification, which indicates the nature of land use in the area.

What are the stamp duty and registration fees for property in Valluvar Pettai?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Valluvar Pettai?

The Pallavaram Sub Registrar Office is responsible for property registrations in Valluvar Pettai, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.