Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street, located in Koyakbedu village, is Rs 4,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification, governed by the AnnaNagar SRO.

How the guideline value of Valluvar Street has changed

The guideline value of Valluvar Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then surged to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Koyakbedu

Koyakbedu village features 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is also the current guideline value for Valluvar Street.

• Valluvar Street Extn.: Rs 3,300 per sq.ft (2024)
• Vallalar Street: Rs 4,400 per sq.ft (2024)
• Varasithi Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Vasantha Sampath Garden: Rs 3,300 per sq.ft (2024)
• Veda Nagar IInd Street: Rs 4,400 per sq.ft (2024)
• Veda Nagar Ist Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koyakbedu. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that the transaction value is in line with the guideline value to avoid discrepancies during registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. 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 4,400 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 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the other streets in Koyakbedu with similar guideline values?

Other streets in Koyakbedu with similar guideline values include Vallalar Street and Veda Nagar IInd Street, both also at Rs 4,400 per sq.ft in 2024.

What fees are associated with property transactions on Valluvar Street?

For property transactions on Valluvar Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Valluvar Street?

The Sub Registrar Office for Valluvar Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.