Guideline Value for Varadharaji Nagar

Varadharaji Nagar guideline value

The current guideline value of Varadharaji Nagar is Rs 3,025 per sq.ft, effective from 1 July 2024. This area is located in Anumanthaputhari village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Varadharaji Nagar has changed

The guideline value for Varadharaji Nagar has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,750 per sq.ft in 2012. However, this figure dropped to Rs 1,842 per sq.ft in 2017. The most recent revisions show a rise to Rs 2,750 per sq.ft in 2023, followed by a further increase to Rs 3,025 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 656%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Anumanthaputhari

In Anumanthaputhari, there are 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 3,025 per sq.ft. The median value is Rs 3,025 per sq.ft, which is the same as the current value for Varadharaji Nagar.

• Varadaraj Nagar: Rs 3,025 per sq.ft (2024)
• T.V.Tower Road: Rs 1,655 per sq.ft (2024)
• Vivekanda Nagar: Rs 1,650 per sq.ft (2024)
• Old Gst Road 2: Rs 3,025 per sq.ft (2024)
• Old Gst Road 1: Rs 3,025 per sq.ft (2024)
• Nadutheru: Rs 3,025 per sq.ft (2024)

Stamp duty and registration fee for property in Varadharaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,025 per sq.ft, the total guideline value would be Rs 30,25,000. The stamp duty at 7% would amount to Rs 2,11,750, and the registration fee at 2% would be Rs 60,500. Together, these fees total Rs 2,72,250. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadharaji Nagar?

The Sub Registrar Office that covers Varadharaji Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Anumanthaputhari. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements during the sale process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Varadharaji Nagar?

The current guideline value of Varadharaji Nagar is Rs 3,025 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,025 per sq.ft in 2024, reflecting an overall increase of 656% over the years.

What are the stamp duty and registration fees for a property in Varadharaji Nagar?

For a property valued at Rs 30,25,000, the stamp duty would be Rs 2,11,750 and the registration fee would be Rs 60,500, totaling Rs 2,72,250.

Which office handles property registrations in Varadharaji Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations for Varadharaji Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, ensuring compliance with legal requirements in Anumanthaputhari.