Guideline Value for Valmiki Street

Valmiki Street guideline value

The current guideline value for Valmiki Street in Agaramthen village, under the Tambaram Joint 1 SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Valmiki Street has changed

The guideline value for Valmiki Street has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and finally reached Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the current value of Valmiki Street.

• Vallalar Street: Rs 830 per sq.ft (2024)
• Veeramamunivar Street: Rs 830 per sq.ft (2024)
• T.V.Srinivasan Street: Rs 830 per sq.ft (2024)
• T.V.Lakshmipathi Street: Rs 830 per sq.ft (2024)
• Tiana Sky City Extension -III: Rs 3,450 per sq.ft (2024)
• Tiana Sky City Extension II - EGK Street: Rs 2,310 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, totaling Rs 74,700. It is important to note that 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 the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value plays a crucial role in the registration process of property transactions in Agaramthen. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Valmiki Street?

The current guideline value of Valmiki Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification of Valmiki Street?

Valmiki Street is classified as Residential Class I Type - II under the land classification system.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2% of the same amount.

Which office handles the registration for Valmiki Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Valmiki Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.