Guideline Value for VARADHAPPAN STREET (KODAMBAKKAM)

Varadhappan Street (Kodambakkam) guideline value

The current guideline value of Varadhappan Street (Kodambakkam) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Varadhappan Street (Kodambakkam) has changed

The guideline value for Varadhappan Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,400 per sq.ft, which increased significantly to Rs 4,600 per sq.ft in 2012. However, it then decreased to Rs 3,082 per sq.ft in 2017. The value rose again to Rs 4,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, there have been notable changes. The increase from 2023 to 2024 was +9%, while the jump from 2017 to 2023 was +49%. The decrease from 2012 to 2017 was -33%, and the substantial increase from 2007 to 2012 was +229%. Overall, from 2007 to 2024, the guideline value has increased by +257%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing Varadhappan Street's 2024 figure below that median.

• Varadhappan Street (West Mambalam): Rs 6,300 per sq.ft (2024)
• Varadharajapettai 1st Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai 2nd Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai 3rd Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai 4th Street: Rs 4,600 per sq.ft (2024)
• Varadharajapettai Main Road: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Varadhappan Street (Kodambakkam)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, together totaling Rs 4,50,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Varadhappan Street (Kodambakkam)?

The Sub Registrar Office that covers Varadhappan Street (Kodambakkam) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Proper understanding of the guideline value helps in planning financial aspects related to property registration and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Varadhappan Street (Kodambakkam)?

The current guideline value of Varadhappan Street (Kodambakkam) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, with various revisions in between, including a peak of Rs 4,600 per sq.ft in 2012 and 2023.

What are the stamp duty and registration fees for property in Varadhappan Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Varadhappan Street?

The Kodambakkam Sub Registrar Office covers Varadhappan Street (Kodambakkam), located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Varadhappan Street?

The land classification for Varadhappan Street (Kodambakkam) is Residential Class III Type - I, which indicates the type of residential development permitted in the area.