Guideline Value for Varadharajapuram Main Road

Varadharajapuram Main Road guideline value

The current guideline value of Varadharajapuram Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Varadharajapuram Main Road has changed

In the 2023 revision, the guideline value was Rs 7,000 per sq.ft. The current 2024 revision reflects an increase of 10%, bringing the value to Rs 7,700 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

The significant change from 2023 to 2024 indicates a rising value in this area. The previous revisions do not provide any figures, which means that the history of guideline values for Varadharajapuram Main Road is limited to the most recent updates.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Varadharajapuram Main Road below this median.

• Varasidhi Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Vanniya puram Corporation Colony: Rs 6,100 per sq.ft (2024)
• Veenus Colony 1st Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 2nd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 3rd Street: Rs 17,600 per sq.ft (2024)
• Venkataraman Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharajapuram Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 detailed calculations.

Which Sub Registrar Office covers Varadharajapuram Main Road?

The Sub Registrar Office that covers Varadharajapuram Main Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When a property is sold, the registration office uses the guideline value to assess the applicable fees, ensuring that all transactions are documented accurately. This helps maintain transparency and standardization in property dealings within Mylapore Part 1.

Frequently asked questions

What is the current guideline value of Varadharajapuram Main Road?

The current guideline value of Varadharajapuram Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% rise. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the stamp duty rate for properties in Varadharajapuram Main Road?

The stamp duty rate for properties in Varadharajapuram Main Road is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for properties in this area?

The registration fee for properties in Varadharajapuram Main Road is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Varadharajapuram Main Road?

The Sub Registrar Office covering Varadharajapuram Main Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.