Guideline Value for Varada Reddiar Colony

Varada Reddiar Colony guideline value

The current guideline value of Varada Reddiar Colony, located in Acharapakkam village under the Acchirapakkam SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Varada Reddiar Colony has changed

Over the years, the guideline value of Varada Reddiar Colony has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, this was followed by a significant decrease to Rs 201 per sq.ft in the 2017 revision. From 2017 to 2023, the value experienced a notable increase, reaching Rs 400 per sq.ft, which remained unchanged in the 2024 revision.

The guideline value for this street has no figures recorded in the register for the years 2002 and 2003. The overall change from the 2007 revision to the current 2024 figure reflects a 100% increase.

Guideline values in Acharapakkam

Acharapakkam village features 61 streets under the Acchirapakkam SRO, with a 2024 guideline value range from Rs 250 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, placing Varada Reddiar Colony at this median rate.

• Vajirapuram: Rs 250 per sq.ft (2024)
• Venkatesapuram: Rs 400 per sq.ft (2024)
• Venkatesapuram 1st Street Ward 14: Rs 300 per sq.ft (2024)
• Venkatesapuram 2rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 3rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 4th Street Ward 15: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Varada Reddiar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, leading to a total cost of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Varada Reddiar Colony?

The Sub Registrar Office covering Varada Reddiar Colony is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process for property transactions in Acharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Varada Reddiar Colony?

The current guideline value of Varada Reddiar Colony is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, showing a 100% increase overall.

What is the median guideline value in Acharapakkam?

The median guideline value in Acharapakkam is Rs 400 per sq.ft, with Varada Reddiar Colony's value being equal to this median.

What are the stamp duty and registration fees for Varada Reddiar Colony?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 36,000.

Where is the Sub Registrar Office for Varada Reddiar Colony located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.