Guideline Value for Sri Varadharajan Nagar

Sri Varadharajan Nagar guideline value

The current guideline value of Sri Varadharajan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Varadharajan Nagar has changed

Over the years, the guideline value of Sri Varadharajan Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision recorded a decrease to Rs 268 per sq.ft, marking a -33% change from the previous value. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft in 2023. The latest revision in 2024 maintains this figure, resulting in no percentage change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has remained stable, with a total change of +0%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 2,025 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Sri Varadharajan Nagar's 2024 figure above this median.

• Sri Venkatachalapathy Annex: Rs 400 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Sri Vigneswara Nagar: Rs 400 per sq.ft (2024)
• S.S.A. Nagar: Rs 300 per sq.ft (2024)
• SSV Nagar: Rs 300 per sq.ft (2024)
• Sri Sai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varadharajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, totaling Rs 28,000, and the registration fee is charged at 2%, totaling Rs 8,000. Together, these fees amount 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Varadharajan Nagar?

The Sri Varadharajan Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Valarpuram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Sri Varadharajan Nagar?

The current guideline value of Sri Varadharajan Nagar 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 since 2012, with a decrease to Rs 268 per sq.ft in 2017, followed by a return to Rs 400 per sq.ft in 2023. There has been no change from 2023 to 2024.

What is the median guideline value in Valarpuram?

The median guideline value for the 91 streets in Valarpuram under the Sriperumpudur SRO is Rs 300 per sq.ft. Sri Varadharajan Nagar's 2024 figure is above this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 28,000 and the registration fee is Rs 8,000, amounting to a total of Rs 36,000.

Which office handles property registrations in Sri Varadharajan Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Sri Varadharajan Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.