Guideline Value for Dr. Varatharajanar Street

Dr. Varatharajanar Street guideline value

The current guideline value of Dr. Varatharajanar Street in Naravarikuppam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Dr. Varatharajanar Street has changed

The guideline value for Dr. Varatharajanar Street has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, the value then decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% drop. The 2023 revision set the value at Rs 1,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has established the guideline value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Dr. Varatharajanar Street.

• Dr. Vaideeswaran Street: Rs 1,650 per sq.ft (2024)
• Dr. Vaideeswaran 2nd Street: Rs 1,650 per sq.ft (2024)
• Dr. Vaideeswaran 1st Street: Rs 1,650 per sq.ft (2024)
• Durai Abdul Abha Sahib Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Kadhar Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Vahab Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Varatharajanar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr. Varatharajanar Street?

The Sub Registrar Office covering Dr. Varatharajanar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Naravarikuppam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value serves as a benchmark for the sale price. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Dr. Varatharajanar Street?

The current guideline value of Dr. Varatharajanar Street is Rs 1,650 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 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 313% over the years.

What is the stamp duty for property in Dr. Varatharajanar Street?

The stamp duty for property in Dr. Varatharajanar Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr. Varatharajanar Street?

The Sub Registrar Office for Dr. Varatharajanar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values of other streets in Naravarikuppam?

Other streets in Naravarikuppam have guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft, with the median being Rs 1,650 per sq.ft, which is the same as Dr. Varatharajanar Street's 2024 figure.