Guideline Value for VARADHAPPAN BACK STREET

Varadhappan Back Street guideline value

The current guideline value of Varadhappan Back Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kanchipuram Town village and falls under the Kanchipuram Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Varadhappan Back Street has changed

The guideline value for Varadhappan Back Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a 33% decline. In the subsequent 2023 revision, the value increased to Rs 800 per sq.ft, and then further rose to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kanchipuram Town

Kanchipuram Town has a total of 85 streets under the Kanchipuram Joint I SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Varadhappan Back Street's 2024 figure below that median.

• Varadhappan Street: Rs 880 per sq.ft (2024)
• Vaitheeyar Street: Rs 1,980 per sq.ft (2024)
• Vaigundaperumal Mada Street: Rs 1,100 per sq.ft (2024)
• Vaigundaperumal Kovil Sannathi Street: Rs 1,100 per sq.ft (2024)
• Vellakulam Street: Rs 1,100 per sq.ft (2024)
• Upperikulam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Varadhappan Back Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadhappan Back Street?

The Sub Registrar Office that covers Varadhappan Back Street is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kanchipuram Town. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This transparency aids in fair dealings and ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Varadhappan Back Street?

The current guideline value of Varadhappan Back Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Varadhappan Back Street?

The land classification for Varadhappan Back Street is Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Varadhappan Back Street?

The registration office for Varadhappan Back Street is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.