Guideline Value for VARADAPIRYA NAGAR

Varadapirya Nagar guideline value

The current guideline value of Varadapirya Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kondamangalam village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Varadapirya Nagar has changed

The guideline value for Varadapirya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft. Following this, the 2023 revision brought it back to Rs 500 per sq.ft, and the 2024 revision has maintained this value, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, when comparing the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

Guideline values in Kondamangalam

In addition to Varadapirya Nagar, there are other streets in Kondamangalam under the Chengleput Joint II SRO. The guideline value for these streets varies, with some streets having higher rates compared to Varadapirya Nagar.

• Doctors Courtyard Jeevana: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Varadapirya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadapirya Nagar?

The Sub Registrar Office that covers Varadapirya Nagar 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kondamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office assesses the guideline value to calculate the necessary fees. Buyers should be aware that the duty will be charged based on the higher amount between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Varadapirya Nagar?

The current guideline value of Varadapirya Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a notable increase of 49% from 2017 to 2023. However, from 2012 to 2017, it decreased by 33%, and overall, it has remained at Rs 500 per sq.ft from 2012 to 2024.

What is the land classification of Varadapirya Nagar?

Varadapirya Nagar is classified as Residential Special Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Varadapirya Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Varadapirya Nagar.