Guideline Value for VARADHARAPURAM /ALL STREETS

Varadharapuram /All Streets guideline value

The current guideline value for Varadharapuram /All Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Varadharapuram /All Streets has changed

The guideline value for Varadharapuram /All Streets has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 400 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, which is a decline of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 2,750 per sq.ft, reflecting an increase of 64% from the previous figure.

It is important to note that there are no recorded guideline values for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current value of Varadharapuram /All Streets above the median.

• Varatharajan Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Varatharajan Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 1st Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 2nd Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharapuram /All Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadharapuram /All Streets?

The Sub Registrar Office that covers Varadharapuram /All Streets is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Varadharapuram /All Streets?

The current guideline value for Varadharapuram /All Streets is Rs 2,750 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 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 588%.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai with the same guideline value of Rs 2,750 per sq.ft include Varatharajan Nagar 1st Street, Varatharajan Nagar 2nd Street, Varatharajapuram 1st Street, Varatharajapuram 2nd Cross Street, Varatharajapuram 2nd Street, and Varatharajapuram 3rd Cross Street.

What is the registration fee for properties in Varadharapuram /All Streets?

The registration fee for properties in Varadharapuram /All Streets is calculated at 2% of the guideline value, which amounts to Rs 55,000 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Varadharapuram /All Streets?

The Sub Registrar Office for Varadharapuram /All Streets is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO online for more information.