Guideline Value for Varadharajan Street

Varadharajan Street guideline value

The current guideline value of Varadharajan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Mixed Type - II land.

How the guideline value of Varadharajan Street has changed

The guideline value for Varadharajan Street has seen significant changes over the years. In the 2007 revision, the value was Rs 525 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 2,345 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then surged to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 633%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for Varadharajan Street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Varadharajan Street's 2024 figure above this median.

• Valluvar Street: Rs 2,380 per sq.ft (2024)
• Valluvar Cross Street: Rs 2,380 per sq.ft (2024)
• Vallalar Street: Rs 1,650 per sq.ft (2024)
• Velmurugan Colony & Nagar: Rs 2,970 per sq.ft (2024)
• Venkatram Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Venkatram Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadharajan Street?

The Sub Registrar Office that covers Varadharajan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers need to pay when a property transaction occurs.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount 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 Varadharajan Street?

The current guideline value of Varadharajan Street is Rs 3,850 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 525 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024. The value has seen both increases and decreases across various revisions.

What is the land classification for Varadharajan Street?

Varadharajan Street is classified as Mixed Type - II land, which is a designation used for various types of land use in the area.

What are the stamp duty rates for properties in Varadharajan Street?

The stamp duty rate for properties in Varadharajan Street is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Varadharajan Street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.