Guideline Value for Varadarajapuram

Varadarajapuram guideline value

The current guideline value of Varadarajapuram is Rs 850 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class V Type - I.

How the guideline value of Varadarajapuram has changed

Over the years, the guideline value for Varadarajapuram has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it dropped to Rs 536 per sq.ft in 2017. The guideline value then rose significantly to Rs 800 per sq.ft in 2023 and further increased to Rs 850 per sq.ft in 2024.

The changes between these revisions include a 167% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 6% increase from 2023 to 2024. The overall increase from 2007 to 2024 is 183%. 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 with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Varadarajapuram's 2024 figure below this median.

• Varadarajan Nagar: Rs 1,800 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 Varadarajapuram

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, together totaling Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Varadarajapuram?

The Sub Registrar Office that covers Varadarajapuram is 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 critical factor during the registration process of property transactions in Selaiyur. It serves as the minimum value upon which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the official sale price for registration purposes. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Varadarajapuram?

The current guideline value of Varadarajapuram is Rs 850 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 850 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with Varadarajapuram's value being below this median.

What are the stamp duty and registration fees for property in Varadarajapuram?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 76,500, based on the current guideline value.

Where is the Sub Registrar Office for Varadarajapuram located?

The Sub Registrar Office for Varadarajapuram is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.