Guideline Value for Varatharajan Street

Varatharajan Street guideline value

The current guideline value of Varatharajan Street is Rs 805 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Varatharajan Street has changed

The guideline value for Varatharajan Street has undergone several revisions since 2012. In 2012, the value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. Following this, the value rose significantly to Rs 805 per sq.ft in both 2023 and 2024, indicating a 72% increase from 2017 to 2023. The value remained unchanged from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Varatharajan Street's 2024 figure below the median.

• Vasantham Nagar: Rs 807 per sq.ft (2024)
• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 per sq.ft (2024)
• Vanniyar Street: Rs 805 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vanna Tank: Rs 806 per sq.ft (2024)
• Vannan Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajan Street

For a 1,000 sq.ft plot at the current rate of Rs 805 per sq.ft, the guideline value amounts to Rs 8,05,000. The stamp duty at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, together totaling Rs 72,450. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varatharajan Street?

The Sub Registrar Office covering Varatharajan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor when registering property transactions in Kovilpathagai. It serves as a benchmark for assessing the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Varatharajan Street?

The current guideline value of Varatharajan Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 805 per sq.ft in 2023 and 2024. Overall, there has been a 15% increase from 2012 to 2024.

What is the land classification of Varatharajan Street?

Varatharajan Street is classified as Residential Class II Type - II.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Varatharajan Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 56,350.