Guideline Value for VARSHA GARDEN

Varsha Garden guideline value

The current guideline value of Varsha Garden is Rs 121 per sq.ft, effective from 1 July 2024. This area is located in Seevaadi village, under the Madurandakam SRO, and is classified as Mixed Type - I land.

How the guideline value of Varsha Garden has changed

Over the years, the guideline value of Varsha Garden has seen several revisions. The earliest recorded figure is from 2012, which was Rs 120 per sq.ft. This was followed by a decrease to Rs 80 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly by 50% to Rs 120 per sq.ft in 2023. The latest revision in 2024 has seen a slight increase to Rs 121 per sq.ft, which is a 1% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Seevaadi

In Seevaadi village, there are nine streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with a median value of Rs 151 per sq.ft. Varsha Garden's current guideline value of Rs 121 per sq.ft is below this median.

• Sundaram Garden: Rs 200 per sq.ft (2024)
• Sai Nagar: Rs 100 per sq.ft (2024)
• Royal City: Rs 200 per sq.ft (2024)
• Pragathi Garden: Rs 150 per sq.ft (2024)
• Mkm City: Rs 151 per sq.ft (2024)
• Family Park: Rs 151 per sq.ft (2024)

Stamp duty and registration fee for property in Varsha Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 121 per sq.ft, the total guideline value amounts to Rs 1,21,000. The stamp duty at 7% would be Rs 8,470, and the registration fee at 2% would be Rs 2,420, bringing the total fees to Rs 10,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varsha Garden?

The Sub Registrar Office that covers Varsha Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Seevaadi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Varsha Garden?

The current guideline value of Varsha Garden is Rs 121 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 120 per sq.ft to Rs 80 per sq.ft in 2017, then increased to Rs 120 per sq.ft in 2023, and finally to Rs 121 per sq.ft in 2024.

What is the land classification of Varsha Garden?

Varsha Garden is classified as Mixed Type - I land, which indicates its suitability for various types of development.

Where can I find the Sub Registrar Office for Varsha Garden?

The Madurandakam Sub Registrar Office covers Varsha Garden and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Varsha Garden?

Stamp duty for properties in Varsha Garden is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 10,890.