Guideline Value for VARDARAJULU NAIDU STREET

Vardarajulu Naidu Street guideline value

The current guideline value of Vardarajulu Naidu Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vardarajulu Naidu Street has changed

The guideline value for Vardarajulu Naidu Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value dropped to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The revisions for the years 2002 and 2003 do not have any figures recorded for Vardarajulu Naidu Street in the register.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with the median being Rs 5,500 per sq.ft. Vardarajulu Naidu Street's 2024 guideline value aligns with this median.

• Varadammal Garden Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden Extension: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 3rd Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 2nd Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 1st Street: Rs 7,100 per sq.ft (2024)
• Varadachari Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vardarajulu Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. Note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vardarajulu Naidu Street?

The Sub Registrar Office that covers Vardarajulu Naidu Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Purasaivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to accurately assess the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Vardarajulu Naidu Street?

The current guideline value of Vardarajulu Naidu Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the land classification for Vardarajulu Naidu Street?

Vardarajulu Naidu Street is classified as Residential Class III Type - I.

Which office handles property registrations for Vardarajulu Naidu Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Vardarajulu Naidu Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in Vardarajulu Naidu Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.