Guideline Value for Varadarajaulu Naidu garden

Varadarajaulu Naidu garden guideline value

The current guideline value of Varadarajaulu Naidu garden is Rs 7,100 per sq.ft. It is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Varadarajaulu Naidu garden has changed

The guideline value for Varadarajaulu Naidu garden has seen significant changes over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012, marking a remarkable increase of 333%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 6,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 7,100 per sq.ft, a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 373%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value range from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Varadarajaulu Naidu garden.

• Varadarajalu Street: 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 Varadarajaulu Naidu garden

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadarajaulu Naidu garden?

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

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

The guideline value is a crucial factor when buying or selling property in Egmore. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the duty is calculated based on the guideline value to ensure that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Varadarajaulu Naidu garden?

The current guideline value of Varadarajaulu Naidu garden 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, increasing from Rs 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 373% over the years.

What is the land classification of Varadarajaulu Naidu garden?

Varadarajaulu Naidu garden is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Varadarajaulu Naidu garden?

The Periamet Sub Registrar Office covers Varadarajaulu Naidu garden and is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 71,00,000, the stamp duty at 7% would be Rs 4,97,000.