Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has seen several revisions over the years. In 2003, the value was Rs 192 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This significant jump of 56% was followed by a remarkable rise to Rs 2,500 per sq.ft in 2012, marking an increase of 733%. However, the value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, which was an increase of 49% from the previous figure. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the 2023 figure. The register has no figure for this street in 2002.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value for Valluvar Street.

• Venkatachalam Street: Rs 3,300 per sq.ft (2024)
• Venkatachala Naicken Street: Rs 2,200 per sq.ft (2024)
• Veterin Lane: Rs 4,400 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)
• Xavier Street: Rs 2,200 per sq.ft (2024)
• Yadaval Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 more details.

Which Sub Registrar Office covers Valluvar Street?

The Sub Registrar Office that covers Valluvar Street 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 Cantonment Pallavaram

The guideline value is a crucial factor during property transactions in Cantonment Pallavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and is periodically revised to reflect changes in the market.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. Buyers should ensure they are aware of the current guideline value to make informed decisions during negotiations.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 2,700 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 192 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 1306% over the years.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Valluvar Street?

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

What is the significance of guideline value in property transactions?

The guideline value is important as it determines the stamp duty and registration fees during property transactions. It serves as a benchmark for both buyers and sellers in the property market.