Guideline Value

Corporate

Guideline Value for Varalakshmi Nagar

₹440/sq.ft.

The guideline value for Varalakshmi Nagar in Pullilyon village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pullilyon

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹35 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[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 is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Varalakshmi Nagar has changed

Over the years, the guideline value for Varalakshmi Nagar has seen significant changes. The earliest recorded figure was Rs 35 per sq.ft in 2003. Following that, the value increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 471%. In 2012, the value was recorded at Rs 400 per sq.ft, which was a 100% increase from the previous revision. However, in 2017, it decreased to Rs 268 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 400 per sq.ft in 2023, and most recently, it has increased to Rs 440 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,157%. The register has no figure for this street in 2002.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median of Rs 700 per sq.ft. The guideline value for Varalakshmi Nagar is below this median.

Stamp duty and registration fee for property in Varalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total amount to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varalakshmi Nagar?

The Sub Registrar Office that covers Varalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pullilyon. It is used to determine the stamp duty and registration fees applicable on the property transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Varalakshmi Nagar?

The current guideline value of Varalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 35 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, which is an overall increase of 1,157%.

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

Other streets in Pullilyon with the same guideline value of Rs 440 per sq.ft include Vigneshwara Lane, Vishnu Nagar Annex, Thanigai Nagar Annex-II, Thanigai Nagar Annex, and Thanigai Nagar.

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

The stamp duty for a property in Varalakshmi Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 39,600.

Which Sub Registrar Office covers Varalakshmi Nagar?

The Redhills Sub Registrar Office covers Varalakshmi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.