Guideline Value for VARUNESH NAGAR

Varunesh Nagar guideline value

The current guideline value of Varunesh Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This locality is situated in Atanancheri village and falls under the Gooduvancheri SRO, with a land classification of Residential Special Type - III.

How the guideline value of Varunesh Nagar has changed

The guideline value for Varunesh Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision saw a decrease to Rs 536 per sq.ft. Overall, from 2012 to 2024, the guideline value has shown no change, remaining at Rs 800 per sq.ft.

Between the revisions, the most significant change occurred from 2017 to 2023, with a notable increase of 49%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Varunesh Nagar's 2024 figure above this median.

• Vasantha Nagar: Rs 600 per sq.ft (2024)
• Vedhadri Maharishi Nagar: Rs 600 per sq.ft (2024)
• United Avenue: Rs 1,050 per sq.ft (2024)
• Thomas Nagar: Rs 500 per sq.ft (2024)
• Vigneshwara Nagar: Rs 600 per sq.ft (2024)
• Vimal Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Varunesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varunesh Nagar?

The Sub Registrar Office that covers Varunesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Atanancheri. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions. The higher of the guideline value and the sale price is used to determine the applicable fees.

When registering a property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Varunesh Nagar?

The current guideline value of Varunesh Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since the 2012 revision, with a decrease to Rs 536 per sq.ft in 2017 and no change in the 2023 revision.

What are the registration fees for property in Varunesh Nagar?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office handles registrations for Varunesh Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Varunesh Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the land classification for Varunesh Nagar?

Varunesh Nagar is classified as Residential Special Type - III, which is significant for determining its guideline value and usage in property transactions.