Guideline Value for VARADHAPPAN STREET

Varadhappan Street guideline value

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

How the guideline value of Varadhappan Street has changed

In the 2012 revision, the guideline value was Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 536 per sq.ft, marking a drop of 33%. The value then increased significantly in the 2023 revision to Rs 800 per sq.ft, followed by a further increase to Rs 880 per sq.ft in the 2024 revision, representing a 10% rise.

From the 2017 to 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kanchipuram Town

Kanchipuram Town has a total of 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, making Varadhappan Street's 2024 figure below the median.

• Varadhappan Back 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the 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 to Rs 79,200. 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 Varadhappan Street?

The Sub Registrar Office that covers Varadhappan 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 property transactions in Kanchipuram Town. It determines the minimum value at which properties can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are recorded at a fair price, preventing undervaluation. This process helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Varadhappan Street?

The current guideline value of Varadhappan 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 of Varadhappan Street?

Varadhappan Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties on Varadhappan Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles the registration of properties in Varadhappan Street?

The Kanchipuram Joint I Sub Registrar Office handles the registration of properties in Varadhappan Street, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.