Guideline Value for Varadarajulu Street

Varadarajulu Street guideline value

The current guideline value of Varadarajulu Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - I.

How the guideline value of Varadarajulu Street has changed

The guideline value for Varadarajulu Street has seen several revisions over the years. In 2007, the value was Rs 620 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. The changes between revisions include a 223% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures available for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Varadarajulu Street's 2024 figure below that median.

• Varadappa Naicken Street: Rs 4,100 per sq.ft (2024)
• Vanniyar Street: Rs 3,300 per sq.ft (2024)
• Vannan Street: Rs 2,700 per sq.ft (2024)
• Vargheese (Road) (Avenue): Rs 8,800 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varadarajulu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadarajulu Street?

The Sub Registrar Office that covers Varadarajulu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Varadarajulu Street?

The current guideline value of Varadarajulu Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 255% over the years.

What is the registration office for Varadarajulu Street?

The registration office for Varadarajulu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Varadarajulu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current guideline value of Varadarajulu Street.