Guideline Value for Varadharaja Nagar

Varadharaja Nagar guideline value

The current guideline value of Varadharaja Nagar is Rs 930 per sq.ft, effective from 1 July 2024. This area is located in Sekkadu village under the Avadi Sub Registrar Office (SRO), classified as Residential Class II Type - III.

How the guideline value of Varadharaja Nagar has changed

The guideline value for Varadharaja Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which was then reduced to Rs 569 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 850 per sq.ft, and the most recent 2024 revision has set it at Rs 930 per sq.ft, marking a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with a median value of Rs 1,320 per sq.ft. Varadharaja Nagar's 2024 guideline value is below this median.

• Varadhapuri Amman Koil Street: Rs 1,075 per sq.ft (2024)
• Udayar Street: Rs 930 per sq.ft (2024)
• Venkatesan Nagar: Rs 1,320 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vgn Bloom: Rs 2,680 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 930 per sq.ft, the total guideline value would be Rs 9,30,000. The stamp duty at 7% would amount to Rs 65,100, and the registration fee at 2% would be Rs 18,600, leading to a total cost of Rs 83,700. 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 Varadharaja Nagar?

The Sub Registrar Office covering Varadharaja Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sekkadu. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers should be aware that the guideline value serves as a baseline for these costs.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Varadharaja Nagar?

The current guideline value of Varadharaja Nagar is Rs 930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then back to Rs 850 per sq.ft in 2023, and finally to Rs 930 per sq.ft in 2024.

What is the median guideline value in Sekkadu?

The median guideline value in Sekkadu is Rs 1,320 per sq.ft, with Varadharaja Nagar's 2024 figure being below this median.

Where is the Sub Registrar Office for Varadharaja Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated in Varadharaja Nagar?

Stamp duty in Varadharaja Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 9,30,000, the stamp duty would be Rs 65,100.