Guideline Value for M.Varadharasanar Street

M.Varadharasanar Street guideline value

The current guideline value of M.Varadharasanar Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Periyakuppam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.Varadharasanar Street has changed

The guideline value for M.Varadharasanar Street has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a significant rise of 150%. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 500 per sq.ft in 2023, and the latest revision in 2024 increased it to Rs 550 per sq.ft, showing a growth of 10% from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the current 2024 guideline value, there has been an increase of 175%. The changes between the revisions highlight the fluctuations in the guideline value over time, with the most significant increase occurring between 2012 and 2017, and a notable increase in the most recent revisions.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing M.Varadharasanar Street's current value below this median.

• Nakeeran Street: Rs 1,100 per sq.ft (2024)
• Namakal Ramalingam Street: Rs 1,100 per sq.ft (2024)
• Mookalathaman Cross Street: Rs 550 per sq.ft (2024)
• New. N.G.G.O. Colony: Rs 1,100 per sq.ft (2024)
• M.G.R.Nagar: Rs 1,100 per sq.ft (2024)
• N.G.G.O.Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.Varadharasanar Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee, charged at 2%, would be Rs 11,000, totaling Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.Varadharasanar Street?

The Sub Registrar Office that covers M.Varadharasanar Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO online for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyakuppam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers navigate the financial aspects of property transactions. It ensures that all parties are aware of the costs involved in the registration process, allowing for more informed decisions.

Frequently asked questions

What is the current guideline value of M.Varadharasanar Street?

The current guideline value of M.Varadharasanar Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the median guideline value in Periyakuppam?

The median guideline value in Periyakuppam is Rs 1,100 per sq.ft, which is higher than the current value of M.Varadharasanar Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property with a guideline value of Rs 5,50,000, the total fees would amount to Rs 49,500.

Which office handles the registration for M.Varadharasanar Street?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for M.Varadharasanar Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.