Guideline Value for VARATHAMMAL THOTTAM

Varathammal Thottam guideline value

The current guideline value of Varathammal Thottam is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Varathammal Thottam has changed

The guideline value for Varathammal Thottam has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which was a decrease of 33% from Rs 670 per sq.ft in 2017. The value remained at Rs 1,000 per sq.ft until the next revision in 2023, where it increased to Rs 1,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, 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 Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Varathammal Thottam's 2024 figure is below this median.

• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)
• Velallar Salai: Rs 3,300 per sq.ft (2024)
• Vellalar Street: Rs 3,300 per sq.ft (2024)
• Velu Garden (Thottam): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Varathammal Thottam

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varathammal Thottam?

The Sub Registrar Office that covers Varathammal Thottam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transfer process.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which aids in maintaining transparency in real estate transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Varathammal Thottam?

The current guideline value of Varathammal Thottam is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, with various revisions in between. The most significant change was a 49% increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Varathammal Thottam?

For a 1,000 sq.ft plot, the guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Varathammal Thottam?

The Neelankarai Sub Registrar Office handles property registrations for Varathammal Thottam. It is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value plays a crucial role in property transactions as it determines the stamp duty and registration fees payable during the registration process. It ensures that properties are registered at a fair value, promoting transparency in real estate transactions.