Guideline Value for SRI VARADHARAJA AVENUE

Sri Varadharaja Avenue guideline value

The current guideline value of Sri Varadharaja Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Pazhayaseevaram -A village under the Walajabad SRO, classified as Residential Class I Type - II.

How the guideline value of Sri Varadharaja Avenue has changed

The guideline value for Sri Varadharaja Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 400 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 268 per sq.ft, marking an increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The consistent value of Rs 400 per sq.ft from 2023 to 2024 indicates stability in the guideline value during this period.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Sri Varadharaja Avenue is above this median, reflecting its position within the local market.

• sriSRIARUNACHALACITY PHASE-IV: Rs 400 per sq.ft (2024)
• Sri Sai Nagar: Rs 350 per sq.ft (2024)
• Temple Meadows: Rs 500 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar: Rs 350 per sq.ft (2024)
• Sri Hari Avenue Ext - I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varadharaja Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty, charged at 7%, would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Varadharaja Avenue?

The Sub Registrar Office that covers Sri Varadharaja Avenue 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 Pazhayaseevaram -A

The guideline value is a critical factor in the registration process when buying or selling property in Pazhayaseevaram -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 Sri Varadharaja Avenue?

The current guideline value of Sri Varadharaja Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024. It was Rs 268 per sq.ft in 2017, reflecting a 49% increase to the current value.

What is the land classification for Sri Varadharaja Avenue?

Sri Varadharaja Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Sri Varadharaja Avenue?

The stamp duty for properties in Sri Varadharaja Avenue is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Sri Varadharaja Avenue?

The Sub Registrar Office covering Sri Varadharaja Avenue is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.