Guideline Value for Valmiki Street

Valmiki Street guideline value

The current guideline value of Valmiki Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - V.

How the guideline value of Valmiki Street has changed

The guideline value for Valmiki Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023 and is now Rs 3,300 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the value increased by 10%. Overall, from 2007 to 2024, the guideline value has risen by 450%, showcasing a significant change over the years.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Valmiki Street's current value above this median.

• Vanjinathan Street: Rs 1,300 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 per sq.ft (2024)
• Varadarajapuram: Rs 850 per sq.ft (2024)
• Varalakshmi Street: Rs 850 per sq.ft (2024)
• Vallalar street: Rs 2,750 per sq.ft (2024)
• Valaiyapathy Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Valmiki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valmiki Street?

The Sub Registrar Office that covers Valmiki Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Valmiki Street?

The current guideline value of Valmiki Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty and registration fees for property in Valmiki Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Valmiki Street?

The Selaiyur Sub Registrar Office handles registrations for Valmiki Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, with Valmiki Street's value being above this median.