Guideline Value for VARADHARAJAN STREET

Varadharajan Street guideline value

The current guideline value of Varadharajan Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, classified as Mixed Special Type - III.

How the guideline value of Varadharajan Street has changed

The guideline value for Varadharajan Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 87 per sq.ft. This increased to Rs 99 per sq.ft in 2003, marking a 14% rise. The value then surged significantly to Rs 200 per sq.ft in 2007, reflecting a 102% increase. Following this, the 2012 revision saw the value rise to Rs 1,400 per sq.ft, which was a substantial 600% increase from the previous figure. However, in 2017, the value dropped to Rs 938 per sq.ft, representing a decrease of 33%.

In the subsequent revisions, the value rose to Rs 1,400 per sq.ft in 2023, a notable 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 1,500 per sq.ft, reflecting a 7% increase from 2023. There are no figures available for the years not mentioned in this register for Varadharajan Street.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft, with a median value of Rs 1,200 per sq.ft. Varadharajan Street's 2024 guideline value of Rs 1,500 per sq.ft is above this median.

• Velmuthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,200 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 per sq.ft (2024)
• Vimalapuram All Streets: Rs 1,200 per sq.ft (2024)
• Thillapuram Ist Street To 3rd Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadharajan Street?

The Sub Registrar Office that covers Varadharajan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Manali. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

During the registration process, the guideline value is used to assess the appropriate fees. It is essential to be aware of the current guideline value to avoid any discrepancies or unexpected costs during the property transaction.

Frequently asked questions

What is the current guideline value of Varadharajan Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent increase from Rs 1,400 per sq.ft in 2023 to Rs 1,500 per sq.ft in 2024. Overall, from 2002 to 2024, the value has increased by 1624%.

What is the land classification of Varadharajan Street?

Varadharajan Street is classified as Mixed Special Type - III according to the current land classification.

Where can I find the Sub Registrar Office for Varadharajan Street?

The Sub Registrar Office for Varadharajan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Varadharajan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,35,000.