Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street in Puthagaram village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street 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. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,600 per sq.ft, a 7% increase from the previous year.

Notably, there are no figures available for Valluvar Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, indicating that Valluvar Street's 2024 figure is below this median.

• Vanavan Nagar: Rs 2,200 per sq.ft (2024)
• Vanavan Nagar Extention: Rs 2,200 per sq.ft (2024)
• Vallalar Street: Rs 1,600 per sq.ft (2024)
• Uma Nagar: Rs 1,900 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,201 per sq.ft (2024)
• Velmurugan Nagar extention: Rs 2,201 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Street?

The Sub Registrar Office that covers Valluvar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Puthagaram. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the sale process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential to consider the guideline value when negotiating property prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Valluvar Street?

The Ambattur Sub Registrar Office covers Valluvar Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Valluvar Street?

Valluvar Street is classified as Residential Class II Type - I, which defines the type of development permitted in the area.