Guideline Value for Adhithyaa Promoters Varam Phase I

Adhithyaa Promoters Varam Phase I guideline value

The current guideline value of Adhithyaa Promoters Varam Phase I is Rs 1,315 per sq.ft, effective from 1 July 2024. This property is located in Illaloor village, under the Thiruporur SRO, and is classified as Residential Special Type - III.

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

The guideline value for Adhithyaa Promoters Varam Phase I has seen several revisions over the years. The 2017 revision set the value at Rs 800 per sq.ft. This increased significantly to Rs 1,195 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,315 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Illaloor

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

• Adhithyaa Promoters Varam Phase II: Rs 1,971 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 I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,315 per sq.ft, the total guideline value amounts to Rs 13,15,000. The stamp duty at 7% would be Rs 92,050, and the registration fee at 2% would be Rs 26,300, bringing the total cost for these fees to Rs 1,18,350. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Adhithyaa Promoters Varam Phase I?

The Sub Registrar Office that covers Adhithyaa Promoters Varam Phase I is 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 plays a crucial role during the registration process when buying or selling property in Illaloor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

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

The current guideline value of Adhithyaa Promoters Varam Phase I is Rs 1,315 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 800 per sq.ft to Rs 1,315 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification of Adhithyaa Promoters Varam Phase I?

Adhithyaa Promoters Varam Phase I is classified as Residential Special Type - III.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Illaloor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,15,000, the stamp duty would be Rs 92,050 at a rate of 7%.