Guideline Value for R.M.Varadarajan Street

R.M.Varadarajan Street guideline value

The current guideline value of R.M.Varadarajan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class I Type - I.

How the guideline value of R.M.Varadarajan Street has changed

The guideline value for R.M.Varadarajan Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a 33% decline. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Ist Division

In Ist Division, there are 79 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 3,300 per sq.ft. The median value is Rs 880 per sq.ft, making R.M.Varadarajan Street's 2024 figure above that median.

• Sannathi Street: Rs 2,200 per sq.ft (2024)
• Sasthiri Nagar: Rs 880 per sq.ft (2024)
• Punniyakoteeswarar Koil Mada Veethi: Rs 880 per sq.ft (2024)
• Puniyakoteeswarar Koil Street: Rs 800 per sq.ft (2024)
• Seshathiripalayam mettu Street: Rs 1,100 per sq.ft (2024)
• Seshathiripalayam Palani Chetty Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in R.M.Varadarajan Street

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

Which Sub Registrar Office covers R.M.Varadarajan Street?

The Sub Registrar Office that covers R.M.Varadarajan Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ist Division. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to 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 R.M.Varadarajan Street?

The current guideline value of R.M.Varadarajan 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for R.M.Varadarajan Street?

R.M.Varadarajan Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in R.M.Varadarajan Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for R.M.Varadarajan Street?

The Kanchipuram Joint IV Sub Registrar Office handles the registration for R.M.Varadarajan Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.