Guideline Value for VARADHAMMAL NAGAR - II

Varadhammal Nagar - II guideline value

The current guideline value of Varadhammal Nagar - II is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village and falls under the Redhills SRO. It is classified as Residential Class I Type - I.

How the guideline value of Varadhammal Nagar - II has changed

The guideline value for Varadhammal Nagar - II has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision has raised it further to Rs 660 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the value has increased by 10%.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, positioning Varadhammal Nagar - II above this median.

• Varathammal Nagar: Rs 440 per sq.ft (2024)
• Vasanth Nagar: Rs 550 per sq.ft (2024)
• Valli Nagar Annex: Rs 550 per sq.ft (2024)
• Vadivudaiamman Nagar: Rs 660 per sq.ft (2024)
• Velan City: Rs 550 per sq.ft (2024)
• Velan City Annex: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Varadhammal Nagar - II

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that the 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 Varadhammal Nagar - II?

The Sub Registrar Office that covers Varadhammal Nagar - II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Pammathukulam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the charges are based on the higher of the guideline value or the sale price.

During the registration process, the guideline value ensures that the property is valued appropriately, reflecting the current market conditions as set by the Registration Department. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Varadhammal Nagar - II?

The current guideline value of Varadhammal Nagar - II is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Varadhammal Nagar - II?

Varadhammal Nagar - II is classified as Residential Class I Type - I.

What is the median guideline value in Pammathukulam?

The median guideline value for the 101 streets in Pammathukulam is Rs 550 per sq.ft.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.