Guideline Value for ADHITHYAA PROMOTERS VARAM PHASE II

Adhithyaa Promoters Varam Phase II guideline value

The current guideline value for Adhithyaa Promoters Varam Phase II is Rs 1,971 per sq.ft. This property is located in Illaloor village under the Thiruporur SRO, classified as Residential Special Type - II.

How the guideline value of Adhithyaa Promoters Varam Phase II has changed

The guideline value for Adhithyaa Promoters Varam Phase II has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,200 per sq.ft. This was followed by an increase to Rs 1,792 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,971 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Illaloor

In Illaloor, there are 17 streets under the Thiruporur SRO that have a 2024 guideline value, ranging from Rs 550 to Rs 2,100 per sq.ft. The median value among these streets is Rs 1,150 per sq.ft, placing Adhithyaa Promoters Varam Phase II above this median.

• Adhithyaa Promoters Varam Phase I: Rs 1,315 per sq.ft (2024)
• Ajs Avenue: Rs 739 per sq.ft (2024)
• Grand Central Manickam Nagar Phase I: Rs 550 per sq.ft (2024)
• Omr Golden City: Rs 1,150 per sq.ft (2024)
• Saithra Avenue: Rs 739 per sq.ft (2024)
• Serasa Greens: Rs 1,396 per sq.ft (2024)

Stamp duty and registration fee for property in Adhithyaa Promoters Varam Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,971 per sq.ft, the total guideline value amounts to Rs 19,71,000. The stamp duty, calculated at 7%, would be Rs 1,37,970, and the registration fee at 2% would be Rs 39,420. Thus, the total cost for stamp duty and registration fee would be Rs 1,77,390. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adhithyaa Promoters Varam Phase II?

The Adhithyaa Promoters Varam Phase II falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Illaloor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

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 the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Adhithyaa Promoters Varam Phase II?

The current guideline value of Adhithyaa Promoters Varam Phase II is Rs 1,971 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2017 to Rs 1,971 per sq.ft in 2024, which is an overall increase of 64% across these years.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 19,71,000, the stamp duty would be Rs 1,37,970 and the registration fee would be Rs 39,420, totaling Rs 1,77,390.

Which office handles the registration for this property?

The Thiruporur Sub Registrar Office handles the registration for Adhithyaa Promoters Varam Phase II, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the land classification for Adhithyaa Promoters Varam Phase II?

The land classification for Adhithyaa Promoters Varam Phase II is Residential Special Type - II, indicating the type of development permitted in this area.