Guideline Value for Varatharajan Nagar

Varatharajan Nagar guideline value

The current guideline value of Varatharajan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Varatharajan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 268 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2023 revision also maintained this value, resulting in a 0% change leading into the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Varatharajan Nagar. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 400 per sq.ft.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Varatharajan Nagar's 2024 figure above this median.

• Vasuki Nagar: Rs 300 per sq.ft (2024)
• Valar Nagar: Rs 200 per sq.ft (2024)
• Vaishnavi Farms: Rs 200 per sq.ft (2024)
• Vaikuntham Nagar: Rs 200 per sq.ft (2024)
• Venkatachalapathi Nagar: Rs 400 per sq.ft (2024)
• Thirumal Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, resulting in a total of Rs 36,000 for the transaction. It is essential to note that the 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 Varatharajan Nagar?

The Sub Registrar Office covering Varatharajan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Valarpuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Varatharajan Nagar?

The current guideline value of Varatharajan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being a stable Rs 400 per sq.ft since 2023. The value was previously Rs 268 per sq.ft in 2017, showing a significant increase over the years.

What is the land classification for Varatharajan Nagar?

Varatharajan Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where is the Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Varatharajan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur a total stamp duty of Rs 28,000.