Guideline Value for VARATHARAJAPURAM 4TH STREET

Varatharajapuram 4th Street guideline value

The current guideline value of Varatharajapuram 4th Street is Rs 2,200 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 Class II Type - I.

How the guideline value of Varatharajapuram 4th Street has changed

The guideline value for Varatharajapuram 4th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value 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, placing Varatharajapuram 4th Street's value above this median.

• Varatharajapuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 5th Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 2nd Street: Rs 2,750 per sq.ft (2024)
• Varatharajapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Varathrajapuram Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajapuram 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the guideline value totals Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Varatharajapuram 4th Street?

The Sub Registrar Office that covers Varatharajapuram 4th 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.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. Accurate knowledge of this value ensures compliance with local regulations and helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Varatharajapuram 4th Street?

The current guideline value of Varatharajapuram 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Varatharajapuram 4th Street?

The land classification for Varatharajapuram 4th Street is Residential Class II Type - I.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with Varatharajapuram 4th Street's value being above this median.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.