Guideline Value for Varadarajan Nagar

Varadarajan Nagar guideline value

The current guideline value of Varadarajan Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 1,800 per sq.ft, effective from 1 July 2024. This area falls under Residential Class II Type - I land classification.

How the guideline value of Varadarajan Nagar has changed

Over the years, the guideline value of Varadarajan Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, there was a decrease to Rs 1,139 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,700 per sq.ft, and the latest revision in 2024 has set it at Rs 1,800 per sq.ft, marking a 6% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 500%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Varadarajan Nagar's 2024 figure below that median.

• Varadarajapuram: Rs 850 per sq.ft (2024)
• Vanjinathan Street: Rs 1,300 per sq.ft (2024)
• Varalakshmi Street: Rs 850 per sq.ft (2024)
• Valmiki Street: Rs 3,300 per sq.ft (2024)
• Vasanthi Colony: Rs 850 per sq.ft (2024)
• Vasuki Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Varadarajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees to Rs 1,62,000. 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 Varadarajan Nagar?

The Sub Registrar Office covering Varadarajan Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Selaiyur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees.

When registering a property, the guideline value serves as a benchmark for taxation purposes. It is essential for both parties to understand that the fees are calculated based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Varadarajan Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 500% over the years.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Varadarajan Nagar.

What are the stamp duty rates for property in Varadarajan Nagar?

The stamp duty rate for property in Varadarajan Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Varadarajan Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.