Guideline Value for Varadarasan Street

Varadarasan Street guideline value

The current guideline value of Varadarasan Street is Rs 2,310 per sq.ft. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Varadarasan Street has changed

The guideline value for Varadarasan Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 2,100 per sq.ft in the 2012 revision. However, the value then decreased to Rs 1,407 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 2,100 per sq.ft, and the most recent 2024 revision set the current value at Rs 2,310 per sq.ft, reflecting a 10% increase from the previous year.

Overall, the guideline value has increased by 824% from the 2007 revision to the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is the same as the current guideline value for Varadarasan Street.

• Varadha Nagar: Rs 3,120 per sq.ft (2024)
• Varadhan Street: Rs 2,310 per sq.ft (2024)
• Varun Avenue: Rs 2,310 per sq.ft (2024)
• Vasantham Avenue: Rs 2,310 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• Vasantham Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Varadarasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total cost to Rs 2,07,900. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadarasan Street?

The Sub Registrar Office that covers Varadarasan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the authorities. This is essential for legal compliance and for the protection of both buyers and sellers in the property market.

Frequently asked questions

What is the current guideline value of Varadarasan Street?

The current guideline value of Varadarasan Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, marking an overall increase of 824% over this period.

What is the land classification for Varadarasan Street?

Varadarasan Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Varadarasan Street?

The Sub Registrar Office for Varadarasan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties on Varadarasan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 at a rate of 7%.