Guideline Value for Valluvar Street (Devi Nagar)

Valluvar Street (Devi Nagar) guideline value

The current guideline value of Valluvar Street (Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Valluvar Street (Devi Nagar) has changed

Over the years, the guideline value of Valluvar Street (Devi Nagar) has undergone several revisions. The earliest recorded figure is from 2007, where it was Rs 800 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 175%. However, by 2017, the value dropped to Rs 1,474 per sq.ft, reflecting a decrease of 33%. The value then saw substantial growth, reaching Rs 2,200 per sq.ft in 2023, an increase of 49% from the previous revision. As of 2024, the guideline value stands at Rs 2,400 per sq.ft, up by 9% from 2023.

It is important to note that there are no recorded figures for Valluvar Street (Devi Nagar) in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which aligns with the guideline value of Valluvar Street (Devi Nagar).

• Valluvar Street (J.B. Nagar): Rs 2,400 per sq.ft (2024)
• Valmiki Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Vanchinathan Street(senthil nagar): Rs 2,700 per sq.ft (2024)
• Vani Vinayagar Street: Rs 2,400 per sq.ft (2024)
• Vallalar Street (Ward No 7): Rs 2,000 per sq.ft (2024)
• Vallalar Street(senthil nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street (Devi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Street (Devi Nagar)?

The Sub Registrar Office that covers Valluvar Street (Devi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price must be at least equal to the guideline value to ensure compliance with registration norms. This ensures transparency and helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Valluvar Street (Devi Nagar)?

The current guideline value of Valluvar Street (Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 800 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 200%.

What is the land classification of Valluvar Street (Devi Nagar)?

Valluvar Street (Devi Nagar) is classified as Residential Class I Type - I.

Which office handles registrations for properties in Valluvar Street (Devi Nagar)?

The Ambattur Sub Registrar Office handles registrations for properties in Valluvar Street (Devi Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.