Guideline Value for Varadaraji Nagar

Varadaraji Nagar guideline value

The current guideline value of Varadaraji Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Vellerithangal village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Varadaraji Nagar has changed

Since the 2007 revision, the guideline value of Varadaraji Nagar has seen a significant increase. In 2007, the value was Rs 50 per sq.ft, which rose to Rs 400 per sq.ft in 2012. The value remained the same in 2023 and 2024, but between 2012 and 2017, it decreased to Rs 268 per sq.ft, before climbing to Rs 400 per sq.ft again in 2023.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase is 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which matches the guideline value of Varadaraji Nagar.

• Treasure Land: Rs 400 per sq.ft (2024)
• Sri Valli Nagar: Rs 400 per sq.ft (2024)
• Sri Sairam Nagar: Rs 300 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 300 per sq.ft (2024)
• SRI RAM Nagar: Rs 1,083 per sq.ft (2024)
• Sri Krishna Mohana Nagar Phase III: Rs 903 per sq.ft (2024)

Stamp duty and registration fee for property in Varadaraji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadaraji Nagar?

The Sub Registrar Office that covers Varadaraji Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vellerithangal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it impacts the financial obligations during the registration process. The guideline value serves as a benchmark for assessing property transactions in the area.

Frequently asked questions

What is the current guideline value of Varadaraji Nagar?

The current guideline value of Varadaraji Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 268 per sq.ft in 2017.

What is the median guideline value in Vellerithangal?

The median guideline value in Vellerithangal is Rs 400 per sq.ft, which is the same as the current value for Varadaraji Nagar.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property in Varadaraji Nagar?

Stamp duty for property in Varadaraji Nagar is calculated at 7% of the guideline value, along with a registration fee of 2%. For a plot valued at Rs 4,00,000, the total fees would amount to Rs 36,000.