Guideline Value for VARADHAPPA NAICKAN ST

Varadhappa Naickan St guideline value

The current guideline value of Varadhappa Naickan St is Rs 900 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Varadhappa Naickan St has changed

The guideline value for Varadhappa Naickan St has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 500 per sq.ft, which increased to Rs 900 per sq.ft in 2024, marking an increase of 80%.

Prior to the 2023 revision, there were no recorded figures for this street in the register for the years mentioned. The significant change from Rs 500 to Rs 900 per sq.ft illustrates a notable adjustment in the guideline value.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO that carry a guideline value for 2024, ranging from Rs 201 to Rs 1,200 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, placing Varadhappa Naickan St's 2024 figure above that median.

• Varadhappa Naicken St: Rs 900 per sq.ft (2024)
• Vaniamkulam Salai: Rs 700 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)
• Vallalar Street: Rs 700 per sq.ft (2024)
• Velavan Nagar: Rs 700 per sq.ft (2024)
• Vellodi Road: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Varadhappa Naickan St

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees to Rs 81,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Varadhappa Naickan St?

The Sub Registrar Office that covers Varadhappa Naickan St is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Ponneri. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value serves as a benchmark to ensure that the property is not undervalued. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Varadhappa Naickan St?

The current guideline value of Varadhappa Naickan St is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 900 per sq.ft in 2024, representing an increase of 80%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the stamp duty and registration fees for property in Varadhappa Naickan St?

For a 1,000 sq.ft property at the guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty would be Rs 63,000 and the registration fee would be Rs 18,000, totaling Rs 81,000.

Which office handles property registration for Varadhappa Naickan St?

The Ponneri Sub Registrar Office handles property registration for Varadhappa Naickan St. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that properties are not undervalued and that appropriate taxes are collected for transactions in Ponneri.