Guideline Value for VARADHARAJA PERUMAL KOIL STREET

Varadharaja Perumal Koil Street guideline value

The current guideline value of Varadharaja Perumal Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this area is Industries Type - I.

How the guideline value of Varadharaja Perumal Koil Street has changed

The guideline value for Varadharaja Perumal Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was later reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,700 per sq.ft in the 2023 revision, and currently stands at Rs 2,900 per sq.ft as of the 2024 revision, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, a total of 107 streets under the Selaiyur SRO have a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with the median value being Rs 2,900 per sq.ft. Varadharaja Perumal Koil Street's 2024 figure aligns with this median.

• Vasiyam Garden: Rs 3,300 per sq.ft (2024)
• Valluvar Nagar: Rs 2,900 per sq.ft (2024)
• Velan Nagar: Rs 2,900 per sq.ft (2024)
• Venba Avenue: Rs 2,900 per sq.ft (2024)
• Venba Nagar: Rs 2,900 per sq.ft (2024)
• T.V. Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaja Perumal Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value totals Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. Please note that 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 Varadharaja Perumal Koil Street?

The Sub Registrar Office that covers Varadharaja Perumal Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is an important factor when registering property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are essential costs associated with property transactions. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Varadharaja Perumal Koil Street?

The current guideline value of Varadharaja Perumal Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 1,809 per sq.ft in 2017, showing a 49% increase from that period to 2023.

What is the land classification for Varadharaja Perumal Koil Street?

The land classification for Varadharaja Perumal Koil Street is Industries Type - I, which indicates the type of development permitted in this area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details by visiting the provided link.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 at a rate of 7%.