Guideline Value for VARADHA NAGAR

Varadha Nagar guideline value

The current guideline value of Varadha Nagar is Rs 3,120 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Varadha Nagar has changed

In the 2017 revision, the guideline value was Rs 1,900 per sq.ft. This figure increased significantly to Rs 2,836 per sq.ft in the 2023 revision, marking a change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 3,120 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Varadha Nagar's 2024 guideline value is above this median.

• Varadarasan Street: Rs 2,310 per sq.ft (2024)
• Varadhan Street: Rs 2,310 per sq.ft (2024)
• Varun Avenue: Rs 2,310 per sq.ft (2024)
• Vasantham Avenue: Rs 2,310 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• Vasantham Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Varadha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,120 per sq.ft, the total guideline value amounts to Rs 31,20,000. The stamp duty at 7% would be Rs 2,18,400, and the registration fee at 2% would be Rs 62,400, bringing the total cost for these fees to Rs 2,80,800. 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 Varadha Nagar?

The Sub Registrar Office that covers Varadha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Varadha Nagar?

The current guideline value of Varadha Nagar is Rs 3,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,900 per sq.ft in 2017 to Rs 2,836 per sq.ft in 2023, and then to Rs 3,120 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Varadha Nagar?

Varadha Nagar is classified as Residential Special Type - II. This classification is essential for understanding the zoning and usage of the land.

Where can I find the registration office for Varadha Nagar?

The registration office for Varadha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Varadha Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 31,20,000, the stamp duty would be Rs 2,18,400 at a rate of 7%.