Guideline Value for VARUN PLATS

Varun Plats guideline value

The current guideline value for Varun Plats in Mamandoor village is Rs 400 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 - I.

How the guideline value of Varun Plats has changed

The guideline value for Varun Plats has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 400 per sq.ft. In 2017, the value dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, by 2023, the value increased significantly to Rs 400 per sq.ft, reflecting a 49% rise from the 2017 figure. The current revision in 2024 maintains this value at Rs 400 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register. Therefore, the guideline value for Varun Plats has remained consistent at Rs 400 per sq.ft since 2023, with an overall change of 0% from 2012 to 2024.

Guideline values in Mamandoor

Mamandoor village has a total of 41 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, indicating that Varun Plats' 2024 figure of Rs 400 per sq.ft is below this median.

• Vedha Garden: Rs 500 per sq.ft (2024)
• Vijay Nagar: Rs 800 per sq.ft (2024)
• Thirumalai Nagar: Rs 500 per sq.ft (2024)
• Welcome City: Rs 400 per sq.ft (2024)
• Welcome City Phase -2: Rs 400 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Varun Plats

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000. Therefore, the total cost for stamp duty and registration fees would be Rs 36,000. 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 Varun Plats?

The Sub Registrar Office that covers Varun Plats 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 Mamandoor

The guideline value plays a crucial role in the registration process when buying or selling property in Mamandoor. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Additionally, the guideline value ensures transparency in property transactions, helping buyers and sellers understand the official valuation of the property. This is essential for legal compliance and for calculating the associated costs of property transfer.

Frequently asked questions

What is the current guideline value for Varun Plats?

The current guideline value for Varun Plats is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision maintaining the value at Rs 400 per sq.ft since 2023. The value was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Varun Plats?

Varun Plats is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for Varun Plats?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 36,000.

Where is the Sub Registrar Office for Varun Plats located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.