Guideline Value for Sri Varadaraja Perumal Nagar

Sri Varadaraja Perumal Nagar guideline value

The current guideline value of Sri Varadaraja Perumal Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village and falls under the Padappai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Varadaraja Perumal Nagar has changed

The guideline value of Sri Varadaraja Perumal Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it then decreased to Rs 737 per sq.ft in 2017. The value increased again to Rs 1,100 per sq.ft in 2023, and the latest revision for 2024 shows an increase to Rs 1,210 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Notably, the value surged by 633% from 2007 to 2012. Overall, from 2007 to 2024, there has been a significant increase of 707% in the guideline value.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sri Varadaraja Perumal Nagar is below this median.

• Srisai Nagar: Rs 1,760 per sq.ft (2024)
• Sri Ranganayaki Nagar: Rs 2,200 per sq.ft (2024)
• Sriranga Nagar: Rs 2,200 per sq.ft (2024)
• Sundaradas Street: Rs 1,210 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)
• Suraj Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varadaraja Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. It is important to note that the 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 Sri Varadaraja Perumal Nagar?

The Sub Registrar Office that covers Sri Varadaraja Perumal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

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

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is particularly crucial for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Varadaraja Perumal Nagar?

The current guideline value of Sri Varadaraja Perumal Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 150 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, marking an overall increase of 707% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 1,08,900 based on the current guideline value.

Which office handles property registrations in Mudichur?

The Padappai Sub Registrar Office handles property registrations in Mudichur, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the purpose of the guideline value in property transactions?

The guideline value serves as a reference point for calculating stamp duty and registration fees in property transactions. It ensures that transactions are recorded accurately and comply with local regulations.