Guideline Value for Varadanar Street

Varadanar Street guideline value

The current guideline value of Varadanar Street is Rs 4,125 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village under the Chengleput Joint I SRO and is classified as Residential Special Type - III.

How the guideline value of Varadanar Street has changed

Over the years, the guideline value of Varadanar Street has seen significant changes. In 2007, the guideline value was Rs 501 per sq.ft, which increased to Rs 3,750 per sq.ft in 2012, marking a substantial rise of 649%. However, between 2012 and 2017, there was a decrease to Rs 2,512 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, and most recently, it increased to Rs 4,125 per sq.ft in 2024, a rise of 10%.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Varadanar Street. Overall, from 2007 to 2024, the guideline value has increased by 723%.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 3,025 per sq.ft, placing Varadanar Street's 2024 figure above this median.

• Veerakudi Velalar Street: Rs 2,420 per sq.ft (2024)
• Vakil Krishnaswamy Street: Rs 2,420 per sq.ft (2024)
• Thirukazhukundram Road: Rs 2,475 per sq.ft (2024)
• Thimmaraja kula Street: Rs 3,850 per sq.ft (2024)
• V.O.C.Street: Rs 2,750 per sq.ft (2024)
• T.E.L.C.Compound 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Varadanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value would be Rs 41,25,000. The stamp duty at 7% would amount to Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, bringing the total fees together to Rs 3,71,250. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadanar Street?

Varadanar Street falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the property registration process in Chengalpattu Town. 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 duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Varadanar Street?

The current guideline value of Varadanar Street is Rs 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 501 per sq.ft in 2007 to Rs 4,125 per sq.ft in 2024, reflecting an overall increase of 723%.

What are the other streets in Chengalpattu Town and their guideline values?

Other streets in Chengalpattu Town include Veerakudi Velalar Street and Vakil Krishnaswamy Street, both at Rs 2,420 per sq.ft, and Thimmaraja kula Street at Rs 3,850 per sq.ft, among others.

What is the registration office for Varadanar Street?

The registration office for Varadanar Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Varadanar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 41,25,000, the stamp duty would be Rs 2,88,750 at the rate of 7%.