Guideline Value for VARAAVATHI STREET (WARD -1)

Varaavathi Street (Ward -1) guideline value

The current guideline value of Varaavathi Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Thailavaram village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Varaavathi Street (Ward -1) has changed

The guideline value for Varaavathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 469 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 700 per sq.ft, and the most recent 2024 revision has set the value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes over the years, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram village, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is equal to the 2024 figure for Varaavathi Street.

• Varsha Avenue (Po): Rs 881 per sq.ft (2024)
• Vallancheri Colony Road (Ward -1): Rs 770 per sq.ft (2024)
• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)
• Vallalar Nagar Ambedkar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 881 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Varaavathi Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees together Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varaavathi Street (Ward -1)?

The Sub Registrar Office that covers Varaavathi Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thailavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value serves as a benchmark for the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Varaavathi Street (Ward -1)?

The current guideline value of Varaavathi Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Varaavathi Street?

Varaavathi Street is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Varaavathi Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.