Guideline Value for Valluvar Street (Kalaignar Nagar)

Valluvar Street (Kalaignar Nagar) guideline value

The current guideline value of Valluvar Street (Kalaignar Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Valluvar Street has seen several revisions over the years. In 2002, the value was Rs 256 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value continued to grow significantly, reaching Rs 750 per sq.ft in 2007, an increase of 134%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial 300% increase from 2007. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1189%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, positioning Valluvar Street's 2024 figure below this median.

• Valluvar Street: Rs 3,300 per sq.ft (2024)
• Ussain Subedhar Street: Rs 3,850 per sq.ft (2024)
• Vedagiri Street: Rs 3,850 per sq.ft (2024)
• Vembuli Subedhar Street: Rs 3,850 per sq.ft (2024)
• Thulasinghapuram: Rs 3,300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 further calculations.

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

The Sub Registrar Office that covers Valluvar Street (Kalaignar Nagar) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Parangimalai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the correct amounts are collected by the authorities.

Frequently asked questions

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

The current guideline value of Valluvar Street (Kalaignar Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 256 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1189% over this period.

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

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

Which Sub Registrar Office handles registrations for Valluvar Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Valluvar Street (Kalaignar Nagar).

What is the land classification for Valluvar Street?

The land classification for Valluvar Street (Kalaignar Nagar) is Residential Class II Type - II.