Guideline Value for Varadharaja Nagar

Varadharaja Nagar guideline value

The current guideline value of Varadharaja Nagar is Rs 680 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Varadharaja Nagar has changed

Over the years, the guideline value of Varadharaja Nagar has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased dramatically to Rs 625 per sq.ft in 2012, marking a rise of 213%. However, by 2017, the value decreased to Rs 419 per sq.ft, reflecting a decline of 33%. The 2023 revision saw a notable increase to Rs 626 per sq.ft, followed by the current 2024 revision which raised it further to Rs 680 per sq.ft, a change of 9%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 240%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Varadharaja Nagar is below this median.

• Vanjinathan Street: Rs 1,650 per sq.ft (2024)
• Valluvarpuram: Rs 1,100 per sq.ft (2024)
• Vb Akshaya Nagar: Rs 1,650 per sq.ft (2024)
• Vallalpari Street: Rs 1,100 per sq.ft (2024)
• Vallalar Street Lane: Rs 1,320 per sq.ft (2024)
• Vallalar Street: Rs 1,650 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 680 per sq.ft, the total guideline value amounts to Rs 6,80,000. The stamp duty at 7% would be Rs 47,600, and the registration fee at 2% would be Rs 13,600, bringing the total cost for these fees to Rs 61,200. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Varadharaja Nagar?

The Sub Registrar Office that covers Varadharaja Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Varadharaja Nagar?

The current guideline value of Varadharaja Nagar is Rs 680 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 680 per sq.ft in 2024, marking an overall increase of 240% over this period.

What are the registration fees for property in Varadharaja Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 6,80,000, the total fees would amount to Rs 61,200.

Which office handles property registration in Varadharaja Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registration for Varadharaja Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, and the duty is charged on the higher amount.