Guideline Value for VARATHARAJAN NAGAR 2ND STREET

Varatharajan Nagar 2nd Street guideline value

The current guideline value of Varatharajan Nagar 2nd Street 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Varatharajan Nagar 2nd Street has changed

The guideline value for Varatharajan Nagar 2nd Street has seen changes over the years. The earliest revision available is from 2012, which set the value at Rs 2,500 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,750 per sq.ft, marking a 10% increase from the 2012 revision.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Varatharajan Nagar 2nd Street above this median value.

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

Stamp duty and registration fee for property in Varatharajan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Varatharajan Nagar 2nd Street?

The Sub Registrar Office that covers Varatharajan Nagar 2nd Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Varatharajan Nagar 2nd Street?

The current guideline value for Varatharajan Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, which is a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Varatharajan Nagar 2nd Street?

The land classification for Varatharajan Nagar 2nd Street is Residential Special Type - I. This classification is important for understanding the zoning and usage of the land.

What is the stamp duty rate for property in Varatharajan Nagar 2nd Street?

The stamp duty rate for property transactions in Varatharajan Nagar 2nd Street is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Varatharajan Nagar 2nd Street?

The Sub Registrar Office for Varatharajan Nagar 2nd Street 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.