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_2 village under the Ponneri SRO, classified as Residential Special Type - I.

How the guideline value of Varadhappa Naicken St has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The 2024 revision also maintains the guideline value at Rs 1,200 per sq.ft, indicating no change from the previous year.

The register has no figures for the revisions in 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Ponneri_2

Ponneri_2 village has a range of guideline values for its 75 streets under the Ponneri SRO, with figures from Rs 700 to Rs 1,300 per sq.ft. The median guideline value in this village is Rs 700 per sq.ft, placing Varadhappa Naicken St's 2024 figure above that median.

• Vallalar Street: Rs 700 per sq.ft (2024)
• Velavan Nagar: Rs 700 per sq.ft (2024)
• Venpakkam Road: Rs 700 per sq.ft (2024)
• T.H. Road: Rs 702 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,200 per sq.ft (2024)
• Theradi Cross Street: Rs 1,200 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 rate, the guideline value is Rs 12,00,000. The stamp duty at 7% amounts to Rs 84,000, and the registration fee at 2% is Rs 24,000, totaling Rs 1,08,000. 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 Varadhappa Naicken St?

The Sub Registrar Office covering 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_2

The guideline value is a crucial factor in the registration process for property transactions in Ponneri_2. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Varadhappa Naicken St?

The current guideline value of 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 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023 and remains at that value in 2024, showing an overall increase of 49% from 2017 to 2024.

What is the land classification of Varadhappa Naicken St?

Varadhappa Naicken St is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty rates applicable in Ponneri_2?

The stamp duty rate in Ponneri_2 is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

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. This office handles the registration of properties in the area.