Guideline Value for SHREE VARI NAGAR

Shree Vari Nagar guideline value

The current guideline value of Shree Vari Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Vallapakkam village and falls under the Walajabad SRO, classified as Residential Class I Type - I.

How the guideline value of Shree Vari Nagar has changed

The guideline value for Shree Vari Nagar has seen several revisions over the years. The register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the guideline value was set at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision marked a decrease of 33% from the previous figure of Rs 201 per sq.ft in 2012. The 2023 revision maintained the value at Rs 300 per sq.ft, and this figure has remained constant into the 2024 revision, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 300 per sq.ft. The most significant increase occurred between the 2017 and 2023 revisions, where the value increased by 49% to reach the current guideline value.

Guideline values in Vallapakkam

In Vallapakkam, there are seven streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft, with the median value being Rs 300 per sq.ft. Shree Vari Nagar's 2024 guideline value aligns with this median.

• Sri Abirami Nagar: Rs 300 per sq.ft (2024)
• Sss Nagar: Rs 300 per sq.ft (2024)
• Thirumalai Nagar: Rs 400 per sq.ft (2024)
• M.G Nagar: Rs 400 per sq.ft (2024)
• King Makers: Rs 300 per sq.ft (2024)
• Golden Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Shree Vari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shree Vari Nagar?

The Sub Registrar Office covering Shree Vari Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Shree Vari Nagar?

The current guideline value of Shree Vari Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with an increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What are the other streets in Vallapakkam with their guideline values?

Other streets in Vallapakkam include Sri Abirami Nagar, Sss Nagar, Thirumalai Nagar, M.G Nagar, King Makers, and Golden Nagar, with guideline values ranging from Rs 300 to Rs 400 per sq.ft.

What are the stamp duty and registration fees for property in Shree Vari Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. This is based on the current guideline value of Rs 300 per sq.ft.

Which office handles property registrations in Shree Vari Nagar?

The Walajabad Sub Registrar Office handles property registrations for Shree Vari Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.