Guideline Value for Varatharajapuram Lane I

Varatharajapuram Lane I guideline value

The current guideline value of Varatharajapuram Lane I is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Varatharajapuram Lane I has changed

The guideline value for Varatharajapuram Lane I has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft. With the 2024 revision, it has increased to Rs 3,850 per sq.ft, marking a rise of 64% from the previous figure. It is important to note that the register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

From the 2017 revision to the 2024 revision, the increase reflects changing conditions in the locality. The current guideline value is now set at Rs 3,850 per sq.ft, which is a significant jump from the earlier figure of Rs 2,345 per sq.ft in 2017.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, positioning Varatharajapuram Lane I's value below the median.

• Varatharajapuram: Rs 3,850 per sq.ft (2024)
• Varadharajapuram (Velachery Tharamani Road): Rs 13,200 per sq.ft (2024)
• Varadharajapuram/Velacheri Taramani Link Road: Rs 13,200 per sq.ft (2024)
• Varadharajapuram Officers Colony: Rs 13,200 per sq.ft (2024)
• Vanjinathan Street/Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Vanjinathan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajapuram Lane I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varatharajapuram Lane I?

The Sub Registrar Office covering Varatharajapuram Lane I is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It serves as a reference point for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to assess the applicable fees. The registration process requires the payment of stamp duty based on this value, which is essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Varatharajapuram Lane I?

The current guideline value of Varatharajapuram Lane I is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which represents an increase of 64%.

Are there any revisions without figures for Varatharajapuram Lane I?

Yes, the register has no figures for Varatharajapuram Lane I for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, with Varatharajapuram Lane I's value being below this median.

Where is the Sub Registrar Office for Varatharajapuram Lane I located?

The Velacheri Sub Registrar Office, which covers Varatharajapuram Lane I, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.