Guideline Value for Chairman Varadharajapuram

Chairman Varadharajapuram guideline value

The current guideline value of Chairman Varadharajapuram, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Chairman Varadharajapuram has changed

The guideline value for Chairman Varadharajapuram has seen significant changes over the years. In 2002, the guideline value was Rs 220 per sq.ft, which increased to Rs 255 per sq.ft in 2003. Following this, the value rose to Rs 600 per sq.ft in 2007, and then saw a substantial increase to Rs 3,100 per sq.ft in 2012. However, it decreased to Rs 2,077 per sq.ft in 2017, before rising again to Rs 3,100 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,400 per sq.ft.

Changes between these revisions have varied. From 2002 to 2024, the overall increase is +1445%. The jump from Rs 2,077 per sq.ft in 2017 to Rs 3,100 per sq.ft in 2023 represents a +49% change. The value then increased by +10% from 2023 to 2024. Notably, there are no figures for this street in the years not mentioned in the revisions.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with the median value being Rs 3,400 per sq.ft. The guideline value for Chairman Varadharajapuram matches this median value.

• Chetty Street: Rs 3,400 per sq.ft (2024)
• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)
• Chinna mettu palayam street: Rs 3,400 per sq.ft (2024)
• Colony Street: Rs 3,400 per sq.ft (2024)
• Damodaran Street: Rs 3,400 per sq.ft (2024)
• Basin Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chairman Varadharajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. 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 Chairman Varadharajapuram?

The Sub Registrar Office that covers Chairman Varadharajapuram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Satthankadu. It determines the minimum value at which the property must be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Chairman Varadharajapuram?

The current guideline value of Chairman Varadharajapuram is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 220 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, representing an overall increase of +1445%.

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

Other streets in Satthankadu include Chetty Street, Chinna Mettu Palayam (Corner Plots), Chinna mettu palayam street, Colony Street, Damodaran Street, and Basin Road, with values ranging from Rs 2,200 to Rs 3,800 per sq.ft.

How is the stamp duty calculated in Chairman Varadharajapuram?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000.

Where is the Sub Registrar Office for Chairman Varadharajapuram located?

The Sub Registrar Office for Chairman Varadharajapuram is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.