Guideline Value for VARATHRAJAPURAM MAIN ROAD

Varathrajapuram Main Road guideline value

The current guideline value of Varathrajapuram Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Pallikaranai village and falls under the Chennai South Joint I SRO with a land classification of Residential Special Type - I.

How the guideline value of Varathrajapuram Main Road has changed

The guideline value for Varathrajapuram Main Road has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, between 2012 and 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street in the register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Varathrajapuram Main Road's 2024 guideline value of Rs 2,750 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Varathrajapuram Main Road

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 to Rs 2,47,500. It is important to note that the 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 Varathrajapuram Main Road?

The Sub Registrar Office that covers Varathrajapuram Main Road 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

When buying or selling property in Pallikaranai, the guideline value plays a crucial role during the registration process. It is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

The guideline value ensures that the transaction is recorded at a fair value determined by the government, helping to maintain transparency in property dealings. Buyers and sellers should be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Varathrajapuram Main Road?

The current guideline value of Varathrajapuram Main Road 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 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 588% over the years.

What is the land classification for Varathrajapuram Main Road?

The land classification for Varathrajapuram Main Road is Residential Special Type - I.

What are the other streets with guideline values in Pallikaranai?

Other streets in Pallikaranai include Varatharajapuram 5th Street at Rs 2,750 per sq.ft, Varatharajapuram 4th Street at Rs 2,200 per sq.ft, and several others. These values reflect the varying rates across the village.

Where is the Sub Registrar Office located for Varathrajapuram Main Road?

The Sub Registrar Office for Varathrajapuram Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.