Guideline Value for Varadharajan Street (Vetri Nagar Extension)

Varadharajan Street (Vetri Nagar Extension) guideline value

The current guideline value of Varadharajan Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Varadharajan Street (Vetri Nagar Extension) has changed

The guideline value for Varadharajan Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 3,301 per sq.ft in 2024.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,301 per sq.ft, which is equal to the current value of Varadharajan Street.

• Valliammal Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Veerapandia Kattaboman Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Veerapandiya Kattabomman Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)
• Veeraraghavan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Vengal Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan Street (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current rate of Rs 3,301 per sq.ft, the guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, totaling Rs 2,97,090. 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 details.

Which Sub Registrar Office covers Varadharajan Street (Vetri Nagar Extension)?

The Sub Registrar Office covering Varadharajan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Peravallur. It determines the minimum value at which property transactions are recorded, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential to be aware of the guideline value to understand the financial implications of your property dealings.

Frequently asked questions

What is the current guideline value of Varadharajan Street?

The current guideline value of Varadharajan Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, with various revisions occurring in between, including a drop in 2017 and increases in subsequent years.

What is the land classification for Varadharajan Street?

Varadharajan Street (Vetri Nagar Extension) is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Varadharajan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost would include both the stamp duty and registration fees.