Guideline Value for Valluvarkottam High Road (or) Village Road

Valluvarkottam High Road (or) Village Road guideline value

The current guideline value of Valluvarkottam High Road (or) Village Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Valluvarkottam High Road (or) Village Road has changed

The guideline value for Valluvarkottam High Road (or) Village Road has seen significant changes over the years. In the 2007 revision, the value was Rs 4,700 per sq.ft, which increased to Rs 12,000 per sq.ft in the 2012 revision, marking a rise of 155%. However, in the 2017 revision, the value decreased to Rs 8,040 per sq.ft, a decline of 33%. The 2023 revision saw a substantial increase to Rs 12,000 per sq.ft, followed by another increase to Rs 13,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 181%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. Valluvarkottam High Road (or) Village Road's 2024 figure is above this median.

• Valluvarkottam 2nd Lane: Rs 8,800 per sq.ft (2024)
• Valluvar Kuppam: Rs 7,100 per sq.ft (2024)
• Valluvarkottam 1st Lane: Rs 8,800 per sq.ft (2024)
• Vaigundapuram 2nd Street: Rs 5,500 per sq.ft (2024)
• Vaigundapuram 1st Street: Rs 5,500 per sq.ft (2024)
• Vaidyanathan Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvarkottam High Road (or) Village Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating fees.

Which Sub Registrar Office covers Valluvarkottam High Road (or) Village Road?

The Valluvarkottam High Road (or) Village Road is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the registration process. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Valluvarkottam High Road (or) Village Road?

The current guideline value of Valluvarkottam High Road (or) Village Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 4,700 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, which is an overall increase of 181%.

What is the land classification for Valluvarkottam High Road (or) Village Road?

The land classification for Valluvarkottam High Road (or) Village Road is Commercial Special Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles registrations for Valluvarkottam High Road (or) Village Road?

The Chennai Central Joint II Sub Registrar Office handles registrations for Valluvarkottam High Road (or) Village Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.