Guideline Value for VARADHARAJAPETTAI 1ST STREET

Varadharajapettai 1st Street guideline value

The current guideline value of Varadharajapettai 1st Street is Rs 4,600 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Varadharajapettai 1st Street has changed

The guideline value for Varadharajapettai 1st Street has undergone several revisions over the years. Starting from Rs 795 per sq.ft in 2002, it increased to Rs 873 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,300 per sq.ft in 2007, which was a 49% increase. Following this, the value surged to Rs 4,300 per sq.ft in 2012, reflecting a remarkable 231% growth. However, the subsequent revision in 2017 brought the value down to Rs 2,881 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 4,600 per sq.ft, which is a 60% increase from the 2017 figure.

It is important to note that there is no figure for this street in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 479%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Varadharajapettai 1st Street below this median.

• Varadharajapettai 2nd Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai 3rd Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai 4th Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai Main Road: Rs 5,800 per sq.ft (2024)
• Varadhappan Street (West Mambalam): Rs 6,300 per sq.ft (2024)
• Varadhappan Street (Kodambakkam): Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajapettai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total cost for these fees to Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadharajapettai 1st Street?

The Sub Registrar Office that covers Varadharajapettai 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Puliyur. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Varadharajapettai 1st Street?

The current guideline value of Varadharajapettai 1st Street is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 795 per sq.ft in 2002 to Rs 4,600 per sq.ft in 2024, marking an overall increase of 479% over the years.

What is the land classification for Varadharajapettai 1st Street?

The land classification for Varadharajapettai 1st Street is Residential Class IV Type - I.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Puliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 46,00,000 would incur a stamp duty of Rs 3,22,000 at a rate of 7%.