Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street in Porur village, under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Valluvar Street has changed

The guideline value of Valluvar Street has seen significant changes over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 378 per sq.ft in 2003, marking an 11% rise. The subsequent revisions showed a substantial increase, with the value reaching Rs 1,000 per sq.ft in 2007, a remarkable 165% increase from the previous figure. However, the value then decreased to Rs 2,600 per sq.ft in 2012, a drop of 33%.

From 2012 to 2017, the value remained at Rs 1,742 per sq.ft, before climbing to Rs 2,600 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,860 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 739%. There are no revisions with no figure for this street in the register.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Valluvar Street's 2024 figure below that median.

• Vanniyar Street: Rs 2,860 per sq.ft (2024)
• Varadaraja Nagar: Rs 2,860 per sq.ft (2024)
• Vaithiyalingam Nayakkar Street: Rs 3,520 per sq.ft (2024)
• Vasuki Street: Rs 2,860 per sq.ft (2024)
• Udhaya Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar Extn Manikandan Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,860 per sq.ft, the guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total Rs 2,57,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valluvar Street?

The Sub Registrar Office that covers Valluvar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It is the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during property transactions.

When a property is registered, the guideline value is considered for taxation purposes, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 341 per sq.ft in 2002 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 739% over the years.

What is the land classification for Valluvar Street?

Valluvar Street is classified as Residential Special Type - III, which influences its guideline value and potential uses.

Where can I find the registration office for Valluvar Street?

The registration office for Valluvar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Valluvar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 28,60,000 would incur a stamp duty of Rs 2,00,200 at a rate of 7%.