Guideline Value for VARSHA AVENUE (PO)

Varsha Avenue (Po) guideline value

The current guideline value of Varsha Avenue (Po) in Potheri village is Rs 880 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Varsha Avenue (Po) has changed

The guideline value for Varsha Avenue (Po) has experienced several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 800 per sq.ft, and the latest 2024 revision has raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Potheri

In Potheri village, there are 129 streets under the Chengleput Joint II SRO that have a 2024 guideline value, ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Varsha Avenue (Po) above this median.

• Varaavathi Street (Ward -1): Rs 770 per sq.ft (2024)
• Vallancheri Colony Road (Ward -1): Rs 770 per sq.ft (2024)
• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Vallalar Nagar Ambedkar Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Varsha Avenue (Po)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that 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 details.

Which Sub Registrar Office covers Varsha Avenue (Po)?

The Sub Registrar Office that covers Varsha Avenue (Po) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Potheri. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Varsha Avenue (Po)?

The current guideline value of Varsha Avenue (Po) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Varsha Avenue (Po)?

Varsha Avenue (Po) is classified as Residential Class I Type - II under the Chengleput Joint II SRO.

What are the stamp duty rates for property transactions in Varsha Avenue (Po)?

The stamp duty rate for property transactions in Varsha Avenue (Po) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Varsha Avenue (Po)?

The Sub Registrar Office for Varsha Avenue (Po) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.