Guideline Value for VARADHA RAJAPURAM & VARADHA RAJA NAGAR

Varadha Rajapuram & Varadha Raja Nagar guideline value

The current guideline value for Varadha Rajapuram & Varadha Raja Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Periyakuppam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Varadha Rajapuram & Varadha Raja Nagar has changed

The guideline value for Varadha Rajapuram & Varadha Raja Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,000 per sq.ft, and then it rose again to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft. 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 Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which matches the current guideline value for Varadha Rajapuram & Varadha Raja Nagar. Below are some other streets in Periyakuppam:

• Vanjinathan Street: Rs 1,100 per sq.ft (2024)
• Vallal Pari Street: Rs 1,100 per sq.ft (2024)
• Vallalar Street: Rs 1,320 per sq.ft (2024)
• T.T.K. Street: Rs 1,100 per sq.ft (2024)
• Thomurarar Nagar: Rs 879 per sq.ft (2024)
• V.G.P./ Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Varadha Rajapuram & Varadha Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadha Rajapuram & Varadha Raja Nagar?

The Sub Registrar Office covering Varadha Rajapuram & Varadha Raja Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Periyakuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the legal sale price and the applicable taxes. Buyers should be aware that the guideline value may influence their overall transaction costs, as it is used to calculate the necessary fees during registration.

Frequently asked questions

What is the current guideline value for Varadha Rajapuram & Varadha Raja Nagar?

The current guideline value for Varadha Rajapuram & Varadha Raja Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Varadha Rajapuram & Varadha Raja Nagar?

Varadha Rajapuram & Varadha Raja Nagar is classified as Residential Class I Type - III.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It serves as a benchmark for the official valuation of the property.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Varadha Rajapuram & Varadha Raja Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.