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 Vallancheri 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 seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. However, this figure increased significantly to Rs 700 per sq.ft in the 2023 revision, and currently stands at Rs 770 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 825 per sq.ft, indicating that the guideline value of Varaavathi Street (Ward -1) is below this median.

• Varsha Avenue (Po): Rs 880 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 880 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 is 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, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations based on your specific property 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Additionally, the guideline value helps ensure transparency in property transactions, as it provides a standardized valuation that is recognized by the registration authorities. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and is now Rs 770 per sq.ft in 2024.

What is the land classification of Varaavathi Street (Ward -1)?

Varaavathi Street (Ward -1) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Varaavathi Street (Ward -1)?

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

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.