Guideline Value for VARADHARAJAN STREET (GRAMA NEDUNCHALAI 19TH CROSS STREET)

Varadharajan Street (Grama Nedunchalai 19th Cross Street) guideline value

The current guideline value of Varadharajan Street (Grama Nedunchalai 19th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, with a land classification of Residential Class II Type - III.

How the guideline value of Varadharajan Street (Grama Nedunchalai 19th Cross Street) has changed

The guideline value for Varadharajan Street has undergone significant changes over the years. In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +64% from the previous revision.

It is important to note that the register has no figures for this street in revisions from 2002, 2003, 2007, 2012, and 2023. Therefore, the only relevant figures for this street are from the 2017 and 2024 revisions.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Varadharajan Street's 2024 guideline value is equal to this median.

• Vazhavanthamman Koil Cross Street (South Part): Rs 1,700 per sq.ft (2024)
• Vazhavanthamman Koil Street: Rs 1,700 per sq.ft (2024)
• Vazhavanthamman Koil Street Extension: Rs 1,700 per sq.ft (2024)
• Vajbai Street: Rs 1,700 per sq.ft (2024)
• Uratchi Ondirya School Street Extension: Rs 1,700 per sq.ft (2024)
• Uratchi Ondirya School Street 1st Cross Street Extension: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan Street (Grama Nedunchalai 19th Cross Street)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the 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 Varadharajan Street (Grama Nedunchalai 19th Cross Street)?

The Sub Registrar Office that covers Varadharajan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buyers and sellers agree on a sale price, the guideline value is used to calculate the applicable duties and fees. The duty is charged on the higher of the guideline value and the sale price, ensuring that the registration process is aligned with the established values in the area.

Frequently asked questions

What is the current guideline value of Varadharajan Street?

The current guideline value of Varadharajan Street (Grama Nedunchalai 19th Cross Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

What is the land classification for Varadharajan Street?

Varadharajan Street is classified as Residential Class II Type - III according to the land classification standards.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated on properties in Sholinganallur - 1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. In the case of Varadharajan Street, the duty is based on the guideline value of Rs 22,00,000 for a 1,000 sq.ft plot.