Guideline Value for VARSHA TOWNSHIP PHASE I

Varsha Township Phase I guideline value

The current guideline value of Varsha Township Phase I is Rs 331 per sq.ft. It is located in Pyanoor village, under the Thiruporur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Varsha Township Phase I has changed

The guideline value for Varsha Township Phase I has seen several revisions over the years. In the 2017 revision, the value was Rs 301 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 331 per sq.ft, marking a 10% rise from the previous year.

Looking further back, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024, showing an overall increase of 10% from 2017 to 2024.

Guideline values in Pyanoor

In Pyanoor, there are five streets that carry a 2024 guideline value, ranging from Rs 275 to Rs 495 per sq.ft. The guideline value for Varsha Township Phase I is equal to the median value of Rs 331 per sq.ft. Below are the guideline values for other streets in Pyanoor:

• Varsha Township Phase II: Rs 331 per sq.ft (2024)
• Saraswathi Nagar Annex: Rs 495 per sq.ft (2024)
• Parvadhavardhini Nagar: Rs 440 per sq.ft (2024)
• Mamalla Artiste Villages: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Varsha Township Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 331 per sq.ft, the total guideline value amounts to Rs 3,31,000. The stamp duty at 7% would be Rs 23,170, and the registration fee at 2% would be Rs 6,620, bringing the total cost for these fees to Rs 29,790. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varsha Township Phase I?

The Sub Registrar Office that covers Varsha Township Phase I is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Pyanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is essential for buyers to be informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Varsha Township Phase I?

The current guideline value of Varsha Township Phase I is Rs 331 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 301 per sq.ft in 2017 to Rs 331 per sq.ft in 2024, reflecting a 10% increase. There was no change from 2017 to 2023, where it remained at Rs 301 per sq.ft.

What is the land classification for Varsha Township Phase I?

The land classification for Varsha Township Phase I is Residential Class I Type - II. This classification is important for determining the permissible uses of the land.

What are the stamp duty and registration fees for a property in Varsha Township Phase I?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 23,170 and the registration fee would be Rs 6,620, totaling Rs 29,790. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Varsha Township Phase I?

The Thiruporur Sub Registrar Office handles registrations for Varsha Township Phase I. It is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.