Guideline Value for Thiyagaraja Stret(Varadarajapuram)

Thiyagaraja Stret(Varadarajapuram) guideline value

The current guideline value of Thiyagaraja Stret(Varadarajapuram) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thiyagaraja Stret(Varadarajapuram) has changed

The guideline value for Thiyagaraja Stret(Varadarajapuram) has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 2,300 per sq.ft in the 2012 revision, marking a 283% increase. However, it then decreased to Rs 1,541 per sq.ft in the 2017 revision, a drop of 33%. The value rose again to Rs 2,300 per sq.ft in the 2023 revision, and further increased to the current Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year. There are no figures available for the revisions in 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 317%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most significant rise occurring from 2017 to 2023, which saw a 49% increase.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Thiyagaraja Stret(Varadarajapuram) is below this median.

• Thulukkanam Street: Rs 2,500 per sq.ft (2024)
• Ulagappa maistry street: Rs 6,600 per sq.ft (2024)
• Vannara Street(WashermenStreet): Rs 3,300 per sq.ft (2024)
• Vedariri Street(Maistry): Rs 4,400 per sq.ft (2024)
• Veeramman Koil Street: Rs 3,800 per sq.ft (2024)
• Swami Naicken Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thiyagaraja Stret(Varadarajapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost for these fees to Rs 2,25,000. 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 Thiyagaraja Stret(Varadarajapuram)?

The Sub Registrar Office that covers Thiyagaraja Stret(Varadarajapuram) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Chindadripet. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable fees.

Understanding the guideline value is essential for property transactions, as it ensures compliance with local regulations and helps in the accurate assessment of fees. Buyers should always check the latest guideline values to ensure they are informed about the costs associated with their property transactions.

Frequently asked questions

What is the current guideline value of Thiyagaraja Stret(Varadarajapuram)?

The current guideline value of Thiyagaraja Stret(Varadarajapuram) is Rs 2,500 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 600 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 317% over this period.

What are the stamp duty and registration fees for property in Thiyagaraja Stret(Varadarajapuram)?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,00,000, resulting in a stamp duty of Rs 1,75,000 and a registration fee of Rs 50,000, totaling Rs 2,25,000.

Which office handles registrations for Thiyagaraja Stret(Varadarajapuram)?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Thiyagaraja Stret(Varadarajapuram).

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

The guideline value is crucial in determining the stamp duty and registration fees during property transactions. It ensures that buyers and sellers are aware of the costs involved based on the current rates set by the registration department.