Guideline Value for Varadharajan street

Varadharajan street guideline value

The current guideline value of Varadharajan street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Varadharajan street has changed

Over the years, the guideline value of Varadharajan street has experienced significant fluctuations. The earliest recorded value in the register is from 2002, which was Rs 272 per sq.ft. This figure increased to Rs 407 per sq.ft in 2003, marking a 50% rise. In 2007, the value jumped to Rs 600 per sq.ft, reflecting a 47% increase. The 2012 revision saw a substantial rise to Rs 2,600 per sq.ft, a remarkable 333% increase from the previous revision. However, in 2017, the value dropped to Rs 1,742 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,600 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft, an increase of 8% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 929%. There are no recorded figures for the years not mentioned in the revisions for this street.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, indicating that Varadharajan street's 2024 figure is below this median.

• Vanniyar Street: Rs 2,800 per sq.ft (2024)
• Vasantha Nagar: Rs 3,900 per sq.ft (2024)
• Veera raghavan street: Rs 3,400 per sq.ft (2024)
• Upparapalayam Streets: Rs 3,400 per sq.ft (2024)
• Udayasooriyan Street: Rs 3,400 per sq.ft (2024)
• Udayasooriyan Link Road: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajan street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 information.

Which Sub Registrar Office covers Varadharajan street?

The Sub Registrar Office that covers Varadharajan street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Varadharajan street?

The current guideline value of Varadharajan street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 272 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 929%.

What is the registration office for Varadharajan street?

The registration office for Varadharajan street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties on Varadharajan street?

Stamp duty for properties on Varadharajan street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.

What are the guideline values of other streets in Satthankadu?

Other streets in Satthankadu have varying guideline values, with rates ranging from Rs 2,200 to Rs 5,500 per sq.ft. For instance, Vanniyar Street and Varadharajan street both have a guideline value of Rs 2,800 per sq.ft in 2024.