Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median guideline value in the village is Rs 1,650 per sq.ft, placing Valluvar Street's 2024 figure above this median.

• Valmigi Street: Rs 1,100 per sq.ft (2024)
• Valliammai Street: Rs 1,100 per sq.ft (2024)
• Valliammai Ist Cross Street: Rs 1,100 per sq.ft (2024)
• Valliammai 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Varadhan Street: Rs 1,100 per sq.ft (2024)
• Varadharajan Street: Rs 1,100 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please 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 Street?

The Sub Registrar Office that covers Valluvar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To locate your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Valluvar Street?

Valluvar Street is classified as Residential Class I Type - II, indicating its use for residential purposes.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Valluvar Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.