Guideline Value for M.A.Nagar Varadarasanar Street

M.A.Nagar Varadarasanar Street guideline value

The current guideline value of M.A.Nagar Varadarasanar Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village and falls under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of M.A.Nagar Varadarasanar Street has changed

The guideline value for M.A.Nagar Varadarasanar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017. The value saw a significant rise to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 93%. It is important to note that the register has no figures for M.A.Nagar Varadarasanar Street for the years 2002 and 2003.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with the median value being Rs 770 per sq.ft. M.A.Nagar Varadarasanar Street's 2024 guideline value aligns with this median.

• Mahameru Nagar Extn.: Rs 660 per sq.ft (2024)
• Mahameru Nagar: Rs 660 per sq.ft (2024)
• Mahalakshmi Nagar 3rd Street: Rs 660 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Maraimalai Adigal Street: Rs 770 per sq.ft (2024)
• Marudhupandiar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in M.A.Nagar Varadarasanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 M.A.Nagar Varadarasanar Street?

The Sub Registrar Office that covers M.A.Nagar Varadarasanar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

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 stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.A.Nagar Varadarasanar Street?

The current guideline value of M.A.Nagar Varadarasanar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What is the land classification for M.A.Nagar Varadarasanar Street?

M.A.Nagar Varadarasanar Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for M.A.Nagar Varadarasanar Street?

The Redhills Sub Registrar Office covers M.A.Nagar Varadarasanar Street and is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Padiyanallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at a guideline value of Rs 770 per sq.ft would incur a total stamp duty of Rs 53,900.