Guideline Value for VARATHARAJAPURAM 2ND STREET

Varatharajapuram 2nd Street guideline value

The current guideline value of Varatharajapuram 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 Varatharajapuram 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the subsequent 2024 revision saw a significant increase, bringing the guideline value back up to Rs 2,750 per sq.ft, which represents a 64% rise from the 2017 figure.

Overall, when comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure of Varatharajapuram 2nd Street above that median.

• Varatharajapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 1st Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 4th Street: Rs 2,200 per sq.ft (2024)
• Varatharajapuram 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajapuram 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 essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Varatharajapuram 2nd Street?

The Sub Registrar Office that covers Varatharajapuram 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, Chennai registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated during the sale or purchase of property.

Frequently asked questions

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

The current guideline value of Varatharajapuram 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 has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024. Overall, from 2012 to 2024, the change is an increase of 10%.

What is the land classification for Varatharajapuram 2nd Street?

The land classification for Varatharajapuram 2nd Street is Residential Special Type - I.

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

The Sub Registrar Office covering Varatharajapuram 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Varatharajapuram 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.