Guideline Value for Valluvar Veedhi

Valluvar Veedhi guideline value

The current guideline value of Valluvar Veedhi in Karunguzhi village, under the Madurandakam SRO, is Rs 401 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - I land classification.

How the guideline value of Valluvar Veedhi has changed

The guideline value for Valluvar Veedhi has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 150 per sq.ft. This increased to Rs 400 per sq.ft in 2012, representing a significant increase of 167%. However, the value then decreased to Rs 268 per sq.ft in 2017, marking a decline of 33%. The value rose again to Rs 400 per sq.ft in 2023, and finally reached Rs 401 per sq.ft in 2024, showing no change from the previous year.

There are no recorded figures for Valluvar Veedhi in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that have a guideline value for 2024, ranging from Rs 401 to Rs 1,000 per sq.ft. The median value is Rs 401 per sq.ft, which is the same as the guideline value for Valluvar Veedhi. Below are other streets in Karunguzhi with their respective guideline values:

• Vaiyali Vinayagar Koil Street: Rs 401 per sq.ft (2024)
• Thumbhulavar Street: Rs 401 per sq.ft (2024)
• Thattara Street: Rs 401 per sq.ft (2024)
• West Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Z.N.Nagar: Rs 500 per sq.ft (2024)
• Shalom Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Veedhi

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020. Thus, the total cost for stamp duty and registration fees would be Rs 36,090. It is important to note that the 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 Veedhi?

The Sub Registrar Office that covers Valluvar Veedhi is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karunguzhi. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a fair value, preventing undervaluation.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for accurately estimating the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Valluvar Veedhi?

The current guideline value of Valluvar Veedhi is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, with various increases and decreases in between. The most significant increase occurred between 2007 and 2012, and the most recent change was from Rs 400 to Rs 401 per sq.ft from 2023 to 2024.

Where can I find the registration office for Valluvar Veedhi?

The registration office for Valluvar Veedhi is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in Valluvar Veedhi?

The stamp duty for a property in Valluvar Veedhi is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 36,090 for these fees.

How is the guideline value determined?

The guideline value is determined by the Registration Department and reflects the minimum value for property transactions in a given area. It is revised periodically based on various factors, ensuring that it remains relevant to current market conditions.