Guideline Value for Valmiki Street

Valmiki Street guideline value

The current guideline value of Valmiki Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Valmiki Street has changed

In the 2007 revision, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, in the 2017 revision, the value dropped to Rs 1,407 per sq.ft, a decrease of 33%. The 2023 revision saw a notable increase to Rs 2,100 per sq.ft, followed by a further rise to the current value of Rs 2,310 per sq.ft in 2024, which is a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 824%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

Perungalathur village has a total of 411 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, which is the same as the current value for Valmiki Street.

• Vanavil Avenue: Rs 3,960 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• Vallalar Street: Rs 2,640 per sq.ft (2024)
• Varadarasan Street: Rs 2,310 per sq.ft (2024)
• Varadha Nagar: Rs 3,120 per sq.ft (2024)
• Varadhan 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total fees together to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Perungalathur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the sale or purchase of the property.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is assessed fairly for taxation purposes, providing a standardized measure across different properties in the region.

Frequently asked questions

What is the current guideline value of Valmiki Street?

The current guideline value of Valmiki Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Vanavil Avenue at Rs 3,960 per sq.ft, Vanchinathan Theru at Rs 2,310 per sq.ft, Vallalar Street at Rs 2,640 per sq.ft, Varadarasan Street at Rs 2,310 per sq.ft, Varadha Nagar at Rs 3,120 per sq.ft, and Varadhan Street at Rs 2,310 per sq.ft.

What is the registration fee for property in Valmiki Street?

The registration fee for property in Valmiki Street is calculated based on the guideline value. For a property valued at Rs 23,10,000, the registration fee at 2% would be Rs 46,200.

Where can I find the Sub Registrar Office for Valmiki Street?

The Sub Registrar Office for Valmiki Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.