Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has undergone several revisions over the years. The earliest recorded value was Rs 282 per sq.ft in 2002, which increased to Rs 322 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, reflecting an increase of 180%. By 2012, the value was revised to Rs 3,500 per sq.ft, which represented a substantial 289% increase from the previous revision. However, this figure dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an 11% increase from the previous year. Throughout this period, there have been no revisions without a figure for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Valluvar Street.

• vallMigi Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• ValMeegi Street Kundrakudi Nagar: Rs 3,900 per sq.ft (2024)
• Vallalar Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanjinathan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanuvampet - Pazhandiyamman Koil Street: Rs 3,900 per sq.ft (2024)
• Vanuvam Pettai 2nd Lane: Rs 3,900 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official registry. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 3,900 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 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1283% over this period.

What is the land classification of Valluvar Street?

Valluvar Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated on properties in Valluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at a rate of 7%.