Guideline Value for VARADAMMAL GARDEN STREET

Varadammal Garden Street guideline value

The current guideline value of Varadammal Garden Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Varadammal Garden Street has changed

The guideline value for Varadammal Garden Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 4,355 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, before reaching the current rate of Rs 7,100 per sq.ft in 2024, marking a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 294%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which means Varadammal Garden Street's current value is above this median.

• Varadammal Garden Extension: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 3rd Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 2nd Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 1st Street: Rs 7,100 per sq.ft (2024)
• Varadachari Lane: Rs 4,900 per sq.ft (2024)
• Vardarajulu Naidu Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Varadammal Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadammal Garden Street?

The Sub Registrar Office that covers Varadammal Garden Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Purasaivakkam. It helps determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value serves as a baseline for calculating the costs involved, ensuring that the transaction is recorded accurately in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Varadammal Garden Street?

The current guideline value of Varadammal Garden Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 294% over the years.

What is the land classification for Varadammal Garden Street?

Varadammal Garden Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for Varadammal Garden Street?

The Sub Registrar Office for Varadammal Garden Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 6,39,000.