Guideline Value for VARADHARAJAPETTAI 2ND STREET

Varadharajapettai 2nd Street guideline value

The current guideline value of Varadharajapettai 2nd 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, classified as Residential Class IV Type - I.

How the guideline value of Varadharajapettai 2nd Street has changed

The guideline value for Varadharajapettai 2nd Street has seen several revisions over the years. In 2002, the value was Rs 795 per sq.ft, which increased to Rs 873 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a 49% increase. By 2012, the value adjusted to Rs 4,300 per sq.ft, showing a substantial increase of 231% from the previous revision. However, it dropped to Rs 2,881 per sq.ft in 2017, indicating a decrease of 33%. The value increased again to Rs 4,300 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,600 per sq.ft, a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 479%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, indicating that Varadharajapettai 2nd Street's current 2024 guideline value is below the median.

• Varadharajapettai 1st 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 2nd 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 fees to Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadharajapettai 2nd Street?

The Sub Registrar Office that covers Varadharajapettai 2nd 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 details.

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

The guideline value is a crucial factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory during the registration process.

Both buyers and sellers should be aware that the guideline value may differ from the actual sale price. Therefore, it is essential to consider the guideline value when planning any property transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Varadharajapettai 2nd Street?

The current guideline value of Varadharajapettai 2nd 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 from Rs 795 per sq.ft in 2002 to Rs 4,600 per sq.ft in 2024, reflecting an overall increase of 479% over this period.

What is the land classification of Varadharajapettai 2nd Street?

Varadharajapettai 2nd Street is classified as Residential Class IV Type - I.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 4,14,000.