Guideline Value for Varadaraj Nagar

Varadaraj Nagar guideline value

The current guideline value of Varadaraj Nagar, located in Anumanthaputhari village under the Chengleput Joint I SRO, is Rs 3,025 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Varadaraj Nagar has changed

The guideline value for Varadaraj Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 333 per sq.ft. This increased significantly to Rs 2,750 per sq.ft in 2012, marking a rise of 726%. However, from 2012 to 2017, the value decreased to Rs 1,842 per sq.ft, a decline of 33%. The value then saw a substantial increase of 49% to Rs 2,750 per sq.ft in 2023.

As of the 2024 revision, the guideline value has further increased by 10% to reach Rs 3,025 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 808%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Anumanthaputhari

In Anumanthaputhari, there are 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 3,025 per sq.ft. The median value for these streets is Rs 3,025 per sq.ft, which is equal to the current guideline value of Varadaraj Nagar.

• Varadharaji Nagar: Rs 3,025 per sq.ft (2024)
• T.V.Tower Road: Rs 1,655 per sq.ft (2024)
• Vivekanda Nagar: Rs 1,650 per sq.ft (2024)
• Old Gst Road 2: Rs 3,025 per sq.ft (2024)
• Old Gst Road 1: Rs 3,025 per sq.ft (2024)
• Nadutheru: Rs 3,025 per sq.ft (2024)

Stamp duty and registration fee for property in Varadaraj Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,025 per sq.ft, the guideline value amounts to Rs 30,25,000. The stamp duty at 7% would be Rs 2,11,750, while the registration fee at 2% would be Rs 60,500. Together, the total cost for these fees would be Rs 2,72,250. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadaraj Nagar?

Varadaraj Nagar falls under the Chengleput Joint I 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 Anumanthaputhari

The guideline value plays a crucial role during the registration of property transactions in Anumanthaputhari. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty will be based on the higher of the two amounts.

Frequently asked questions

What is the current guideline value of Varadaraj Nagar?

The current guideline value of Varadaraj Nagar is Rs 3,025 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 333 per sq.ft in 2007 to Rs 3,025 per sq.ft in 2024, marking an overall increase of 808% over the years.

What is the stamp duty rate for properties in Varadaraj Nagar?

The stamp duty rate for properties in Varadaraj Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Chengleput Joint I Sub Registrar Office located?

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

How is the guideline value determined for properties in Anumanthaputhari?

The guideline value for properties in Anumanthaputhari is determined based on various revisions recorded in the guideline value register maintained by the Registration Department.