Guideline Value for VARADHARAJI NAGAR

Varadharaji Nagar guideline value

The current guideline value of Varadharaji Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Varadharaji Nagar has changed

The guideline value for Varadharaji Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 800 per sq.ft. In 2017, the value decreased to Rs 536 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value increased to Rs 800 per sq.ft, reflecting a significant rise of 49% from the 2017 figure. The current revision in 2024 maintains this value at Rs 800 per sq.ft, showing no change from the previous year.

There are no figures available for Varadharaji Nagar in the revisions from 2002, 2003, and 2007, as the register does not contain any data for these years.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. Varadharaji Nagar's 2024 figure of Rs 800 per sq.ft is above this median.

• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Vaigai Nagar: Rs 700 per sq.ft (2024)
• Vetri Velan Nagar: Rs 500 per sq.ft (2024)
• Thungabhadra Nagar: Rs 800 per sq.ft (2024)
• Vijayapuram: Rs 500 per sq.ft (2024)
• Vijay Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. 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 Varadharaji Nagar?

The Sub Registrar Office that covers Varadharaji Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value to avoid any discrepancies during the registration process. The registration office will refer to the guideline value to calculate the applicable fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Varadharaji Nagar?

The current guideline value of Varadharaji Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent figures showing no change from 2023 to 2024. The value increased from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023.

What is the land classification of Varadharaji Nagar?

Varadharaji Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Varadharaji Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 72,000.

Which office handles property registrations for Varadharaji Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Varadharaji Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.