Guideline Value for VARADHAPPAN STREET (WEST MAMBALAM)

Varadhappan Street (West Mambalam) guideline value

The current guideline value of Varadhappan Street (West Mambalam) is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Varadhappan Street (West Mambalam) has changed

The guideline value for Varadhappan Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,650 per sq.ft, which increased significantly to Rs 5,800 per sq.ft in 2012, marking a rise of 252%. However, from 2012 to 2017, the value decreased to Rs 3,886 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 6,300 per sq.ft, reflecting an increase of 62% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 282%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Varadhappan Street's 2024 figure of Rs 6,300 per sq.ft is above this median.

• Varadhappan Street (Kodambakkam): Rs 5,000 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 (West Mambalam)

For a 1,000 sq.ft plot at the current rate of Rs 6,300 per sq.ft, the guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, totaling Rs 5,67,000. Please note that the 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 Street (West Mambalam)?

The Sub Registrar Office that covers Varadhappan Street (West Mambalam) 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 is an important factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Varadhappan Street (West Mambalam) is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,650 per sq.ft in 2007 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 282% since 2007.

What is the land classification for Varadhappan Street?

Varadhappan Street is classified as Residential Special Type - III under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Varadhappan Street located?

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