Guideline Value for Varadarajalu Street

Varadarajalu Street guideline value

The current guideline value of Varadarajalu Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Varadarajalu Street has changed

The guideline value for Varadarajalu Street has undergone several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2007. This figure saw a significant increase to Rs 6,500 per sq.ft in 2012, marking a rise of 333%. However, it then decreased to Rs 4,355 per sq.ft in 2017, which was a decline of 33%. The value continued to rise again, reaching Rs 6,500 per sq.ft in 2023, and finally increasing to the current rate of Rs 7,100 per sq.ft in 2024, representing a 9% increase.

It is important to note that there are no recorded figures for Varadarajalu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 373%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value of Varadarajalu Street.

• Varadarajaulu Naidu garden: Rs 7,100 per sq.ft (2024)
• Vannanthurai: Rs 3,400 per sq.ft (2024)
• Valliammal street: Rs 13,400 per sq.ft (2024)
• Vasu salai: Rs 13,400 per sq.ft (2024)
• Veeerasamy pillai street: Rs 7,100 per sq.ft (2024)
• Veerabadra Achari Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Varadarajalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the guideline value totals Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Varadarajalu Street?

The Sub Registrar Office that covers Varadarajalu Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for additional information.

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

The guideline value is a critical factor when registering property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that all transactions are documented accurately and comply with local regulations.

Frequently asked questions

What is the current guideline value of Varadarajalu Street?

The current guideline value of Varadarajalu Street is Rs 7,100 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 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 373%.

What are the stamp duty and registration fees for property on Varadarajalu Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,39,000 based on the current guideline value of Rs 71,00,000.

Which office handles registrations for Varadarajalu Street?

The Periamet Sub Registrar Office handles registrations for Varadarajalu Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Varadarajalu Street?

Varadarajalu Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.