Guideline Value for Varadharaja Perumal Nagar

Varadharaja Perumal Nagar guideline value

The current guideline value of Varadharaja Perumal Nagar is Rs 3,050 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Varadharaja Perumal Nagar has changed

The guideline value for Varadharaja Perumal Nagar has seen several revisions over the years. In 2002, the value was Rs 153 per sq.ft, which increased to Rs 168 per sq.ft in 2003. The next significant jump occurred in 2007, where it rose to Rs 400 per sq.ft, followed by a substantial increase to Rs 2,750 per sq.ft in 2012. However, it decreased to Rs 1,842 per sq.ft in 2017. The value then increased to Rs 2,750 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,050 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects an increase of 11%. The most notable change occurred from 2007 to 2012, where there was a remarkable increase of 588%. Overall, from 2002 to 2024, the guideline value has increased by 1,893%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, which is the same as the guideline value for Varadharaja Perumal Nagar.

• Varadharaja Swamy Nagar 1st Street: Rs 3,050 per sq.ft (2024)
• Varadharaja Swamy Nagar Main Road: Rs 3,050 per sq.ft (2024)
• Varalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Vallalar Street: Rs 2,200 per sq.ft (2024)
• Vadavenni Amman Nagar: Rs 3,050 per sq.ft (2024)
• Vadaveniamman Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaja Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total to Rs 2,74,500. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Varadharaja Perumal Nagar?

The Sub Registrar Office that covers Varadharaja Perumal Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable duties. This value helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Varadharaja Perumal Nagar?

The current guideline value of Varadharaja Perumal Nagar is Rs 3,050 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 153 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, marking an overall increase of 1,893%.

What is the land classification for Varadharaja Perumal Nagar?

Varadharaja Perumal Nagar is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Varadharaja Perumal Nagar?

For a 1,000 sq.ft plot, the total guideline value would be Rs 30,50,000, with a stamp duty of Rs 2,13,500 and a registration fee of Rs 61,000, totaling Rs 2,74,500.

Which Sub Registrar Office covers the area of Varadharaja Perumal Nagar?

The Virugambakkam Sub Registrar Office covers Varadharaja Perumal Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.