Guideline Value for Varadappa Mudaliar Street

Varadappa Mudaliar Street guideline value

The current guideline value of Varadappa Mudaliar Street is Rs 1,320 per sq.ft. This street is located in Nasarathpettai village, under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Varadappa Mudaliar Street has changed

The guideline value for Varadappa Mudaliar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and then to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. From 2017 to 2023, there was a substantial increase of 49%. The change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Nasarathpettai

Nasarathpettai has 19 streets under the Poonamallee SRO that carry a 2024 guideline value, with figures ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as the 2024 figure for Varadappa Mudaliar Street.

• Thirupur Kumaran Street: Rs 1,320 per sq.ft (2024)
• V.O.C Street: Rs 1,320 per sq.ft (2024)
• Yamuna Nagar: Rs 1,320 per sq.ft (2024)
• Shri Vaaru Avenue: Rs 1,320 per sq.ft (2024)
• Sathiyamoorthy Street: Rs 1,320 per sq.ft (2024)
• Rajarathinam nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Varadappa Mudaliar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadappa Mudaliar Street?

The Sub Registrar Office that covers Varadappa Mudaliar Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Nasarathpettai, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is crucial for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at the guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Varadappa Mudaliar Street?

The current guideline value of Varadappa Mudaliar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Varadappa Mudaliar Street?

The land classification for Varadappa Mudaliar Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Varadappa Mudaliar Street?

The Poonamallee Sub Registrar Office handles registrations for Varadappa Mudaliar Street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.