Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street in Hastinapuram village is Rs 2,380 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has seen significant changes over the years. In 2007, the guideline value was Rs 400 per sq.ft. This value increased dramatically by 450% to reach Rs 2,200 per sq.ft in 2012. However, there was a decrease of 33% to Rs 1,474 per sq.ft in 2017. Following this, the guideline value rose by 49% to Rs 2,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,380 per sq.ft, marking an 8% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 495%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Valluvar Street's 2024 figure below this median.

• Valluvar Cross Street: Rs 2,380 per sq.ft (2024)
• Varadharajan Street: Rs 3,850 per sq.ft (2024)
• Vallalar Street: Rs 1,650 per sq.ft (2024)
• Velmurugan Colony & Nagar: Rs 2,970 per sq.ft (2024)
• Thoilkapiyam Street: Rs 2,970 per sq.ft (2024)
• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total to Rs 2,14,200. 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 detailed calculations.

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 Hastinapuram

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, marking a total increase of 495% over this period.

What are the stamp duty and registration fees for properties on Valluvar Street?

For a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600, and the registration fee would be Rs 47,600, totaling Rs 2,14,200.

Which office handles registrations for Valluvar Street?

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

What is the land classification for Valluvar Street?

Valluvar Street is classified as Residential Class II Type - I, indicating its designation for residential development within the area.