Guideline Value for Varadhan Street

Varadhan Street guideline value

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

The guideline value for Varadhan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,100 per sq.ft, which decreased to Rs 1,407 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 2,100 per sq.ft in the 2023 revision, and the current value is Rs 2,310 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the current 2024 value represents a 10% increase.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have 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 Varadhan Street.

• Varadha Nagar: Rs 3,120 per sq.ft (2024)
• Varadarasan 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 Varadhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, resulting in a total of Rs 2,07,900. It is important to note that the stamp 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 Varadhan Street?

The Sub Registrar Office that covers Varadhan 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 plays a crucial role in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees can significantly impact the overall cost of the transaction, as they are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Varadhan Street?

The current guideline value of Varadhan 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 seen several changes, with the most recent increase from Rs 2,100 per sq.ft in 2023 to Rs 2,310 per sq.ft in 2024. The value was Rs 1,407 per sq.ft in 2017 and Rs 2,100 per sq.ft in 2012.

What is the land classification for Varadhan Street?

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

Where can I find the registration office for Varadhan Street?

The registration office for Varadhan 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 in Varadhan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,61,700.