Guideline Value for VARADHAPPA NAICKEN ST

Varadhappa Naicken St guideline value

The current guideline value of Varadhappa Naicken St is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Special Type - I.

How the guideline value of Varadhappa Naicken St has changed

The guideline value for Varadhappa Naicken St has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a change of +1%. The value remained consistent at Rs 1,200 per sq.ft during the 2023 revision and continues at the same rate in the 2024 revision, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +50%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 201 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Varadhappa Naicken St's 2024 figure above this median.

• Varadhappa Naickan St: Rs 1,200 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 Naicken St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 more detailed calculations.

Which Sub Registrar Office covers Varadhappa Naicken St?

The Sub Registrar Office that covers Varadhappa Naicken St is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Varadhappa Naicken St?

The current guideline value for Varadhappa Naicken St is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2024, marking an overall increase of +50% over this period.

What is the median guideline value for streets in Ponneri?

The median guideline value for the 120 streets in Ponneri under the Ponneri SRO is Rs 700 per sq.ft, with Varadhappa Naicken St's value being above this median.

What are the stamp duty rates applicable in Varadhappa Naicken St?

The stamp duty rate in Varadhappa Naicken St is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Varadhappa Naicken St?

The Sub Registrar Office for Varadhappa Naicken St is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can also find more information through the provided link.