Guideline Value for Varadappa Naicken Street

Varadappa Naicken Street guideline value

The current guideline value of Varadappa Naicken Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Varadappa Naicken Street has changed

Over the years, the guideline value of Varadappa Naicken Street has seen significant changes. The 2007 revision recorded a value of Rs 1,210 per sq.ft, which increased dramatically to Rs 3,750 per sq.ft in the 2012 revision, marking a rise of 210%. However, from 2012 to 2017, the value dropped by 33% to Rs 2,512 per sq.ft. The 2017 revision then saw a substantial increase of 49%, bringing the value to Rs 3,750 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 239%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which means Varadappa Naicken Street's current value is below this median.

• Varadarajulu Street: Rs 2,200 per sq.ft (2024)
• Vanniyar Street: Rs 3,300 per sq.ft (2024)
• Vannan Street: Rs 2,700 per sq.ft (2024)
• Vargheese (Road) (Avenue): Rs 8,800 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Varadappa Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varadappa Naicken Street?

The Sub Registrar Office that covers Varadappa Naicken Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Varadappa Naicken Street?

The current guideline value of Varadappa Naicken Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 239% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property, the total guideline value is Rs 41,00,000. The stamp duty is Rs 2,87,000, and the registration fee is Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office covers Varadappa Naicken Street?

The Ashok Nagar Sub Registrar Office covers Varadappa Naicken Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Varadappa Naicken Street?

The land classification for Varadappa Naicken Street is Residential Class IV Type - I, indicating its suitability for residential development.