Guideline Value for Valter Devaraj Street

Valter Devaraj Street guideline value

The current guideline value of Valter Devaraj Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Valter Devaraj Street has changed

The guideline value for Valter Devaraj Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

In summary, the changes between the revisions show a significant increase of 49% from 2017 to 2023, while the overall change from 2012 to 2024 is a modest increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Valter Devaraj Street's 2024 figure below this median.

• Vayal Veli Street: Rs 1,300 per sq.ft (2024)
• Unnamalai Nagar Road: Rs 1,700 per sq.ft (2024)
• Unnamalai Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Unnamalai Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Unnamalai Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Unnamalai Nagar 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valter Devaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Valter Devaraj Street?

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

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

This ensures transparency in property transactions, as the guideline value reflects the government's assessment of property worth in the area. Buyers and sellers should always be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Valter Devaraj Street?

The current guideline value of Valter Devaraj Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Valter Devaraj Street?

Valter Devaraj Street is classified as Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Valter Devaraj Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.