Guideline Value for varatharajan street(thurai samy nagar)

Varatharajan Street(Thurai Samy Nagar) guideline value

The current guideline value of Varatharajan Street(Thurai Samy Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Varatharajan Street(Thurai Samy Nagar) has changed

The guideline value for Varatharajan Street(Thurai Samy Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, there was a significant increase in the 2023 revision to Rs 2,500 per sq.ft, followed by another increase to the current value of Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. After that, it increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam village, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making Varatharajan Street(Thurai Samy Nagar) above this median.

• Varatharaja Perumal Street: Rs 1,100 per sq.ft (2024)
• Varghesh Avenue: Rs 3,520 per sq.ft (2024)
• Varadharajan Street: Rs 1,100 per sq.ft (2024)
• Varadhan Street: Rs 1,100 per sq.ft (2024)
• Vasavi Nagar: Rs 1,650 per sq.ft (2024)
• Vasugi Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Varatharajan Street(Thurai Samy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, leading to a total cost of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Varatharajan Street(Thurai Samy Nagar)?

The Sub Registrar Office that covers Varatharajan Street(Thurai Samy Nagar) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the current market conditions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Varatharajan Street(Thurai Samy Nagar)?

The current guideline value of Varatharajan Street(Thurai Samy Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 increasing it to Rs 2,750 per sq.ft from Rs 2,500 per sq.ft in 2023. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Varatharajan Street(Thurai Samy Nagar)?

Varatharajan Street(Thurai Samy Nagar) is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Varatharajan Street(Thurai Samy Nagar)?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Varatharajan Street(Thurai Samy Nagar)?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Varatharajan Street(Thurai Samy Nagar), located at No.26, Mes Road, East Tambaram, Chennai-600059.