Guideline Value for MU.VARADHARASANAR STREET

Mu.Varadharasanar Street guideline value

The current guideline value of Mu.Varadharasanar Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Mu.Varadharasanar Street has changed

The guideline value for Mu.Varadharasanar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, it then decreased to Rs 871 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continues into the 2024 revision, reflecting no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision is a substantial increase of 767%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Mu.Varadharasanar Street's 2024 figure above this median.

• Murugesa Reddy Street: Rs 1,000 per sq.ft (2024)
• Murugan Street: Rs 700 per sq.ft (2024)
• Mullai Street: Rs 700 per sq.ft (2024)
• Navalar Street: Rs 1,300 per sq.ft (2024)
• Navaneetham Nagar: Rs 700 per sq.ft (2024)
• Nedhaji Street: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mu.Varadharasanar Street?

The Sub Registrar Office covering Mu.Varadharasanar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process for property transactions in Vengathur. It determines the amount of stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark for calculating these fees. Buyers should be aware that the fees are charged based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

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

The current guideline value of Mu.Varadharasanar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and remained at Rs 1,300 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles the registration for Mu.Varadharasanar Street?

The registration for Mu.Varadharasanar Street is handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Mu.Varadharasanar Street's value of Rs 1,300 per sq.ft being above this median.