Guideline Value

Corporate

Guideline Value for Varalakshmi Nagar

₹2200/sq.ft.

The guideline value for Varalakshmi Nagar in Selavoyal village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Selavoyal

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Varalakshmi Nagar

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Varalakshmi Nagar guideline value

The current guideline value of Varalakshmi Nagar, located in Selavoyal village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Varalakshmi Nagar has changed

The guideline value for Varalakshmi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision. It should be noted that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 26%. However, from 2017 to 2023, there was a significant increase of 49%. The latest change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 22% from 2012 to 2024.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current figure for Varalakshmi Nagar.

Stamp duty and registration fee for property in Varalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varalakshmi Nagar?

The Sub Registrar Office that covers Varalakshmi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair and standardized rate.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Varalakshmi Nagar?

The current guideline value of Varalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal with a guideline value of Rs 2,200 per sq.ft include Vedhantha Murugappan 1st, 2nd, 3rd, and 4th Streets, as well as Vedhantha Murugappan Salai 1st and 2nd Lanes.

What are the stamp duty rates for property in Varalakshmi Nagar?

The stamp duty for property in Varalakshmi Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Varalakshmi Nagar?

The Sub Registrar Office for Varalakshmi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.