Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Valluvar Street has changed

The guideline value for Valluvar Street has seen several revisions over the years. In 2012, the value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, a rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,500 per sq.ft, reflecting an increase of 9% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Valluvar Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with the median being Rs 2,500 per sq.ft. Valluvar Street's 2024 figure aligns perfectly with this median.

• Valmiki Street: Rs 2,500 per sq.ft (2024)
• Valluvar Cross Street: Rs 2,200 per sq.ft (2024)
• Vanchinathan Street: Rs 2,200 per sq.ft (2024)
• Varalakshmi 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Vadivudaiamman Koil Street: Rs 2,500 per sq.ft (2024)
• Vadiudaiamman Street: Rs 2,200 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Valluvar Street?

Valluvar Street is classified as Residential Class III Type - I under the Madhavaram SRO.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Valluvar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000.