Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street in Puzhal village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 993 per sq.ft. This increased to Rs 101 per sq.ft in 2003, marking a decrease of 90%. The value then rose significantly to Rs 300 per sq.ft in 2007, an increase of 197%. Following this, in 2012, the value was revised to Rs 800 per sq.ft, reflecting a 167% increase. However, in 2017, it decreased to Rs 536 per sq.ft, which was a drop of 33%. The value saw a substantial increase to Rs 1,000 per sq.ft in 2023, an 87% rise, and finally, it reached the current value of Rs 1,100 per sq.ft in 2024, a 10% increase.

There are no figures available for the years not listed in the register for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, indicating that Valluvar Street's 2024 figure is below this median.

• Vanitha Nagar: Rs 1,100 per sq.ft (2024)
• Varalakshmi Street: Rs 1,102 per sq.ft (2024)
• Vegetarian Nagar: Rs 1,100 per sq.ft (2024)
• Vegetarian Road: Rs 1,100 per sq.ft (2024)
• T.K.S. Nagar: Rs 1,102 per sq.ft (2024)
• T.K. Bose Nagar: Rs 1,102 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Valluvar Street?

The Sub Registrar Office that covers Valluvar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 1,100 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 993 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Valluvar Street?

Valluvar Street is classified as Residential Class II Type - I under the Redhills SRO.

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

The Sub Registrar Office for Valluvar Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Valluvar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.