Guideline Value for Varadhan Kuttai

Varadhan Kuttai guideline value

The current guideline value of Varadhan Kuttai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Varadhan Kuttai has changed

The guideline value for Varadhan Kuttai has seen several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 marked a significant increase to Rs 2,700 per sq.ft, reflecting a 61% rise from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 170%. The register does not provide figures for the years 2002, 2003, and 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Varadhan Kuttai's 2024 figure of Rs 2,700 per sq.ft is below this median.

• Varalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• Vanasakthi Nagar: Rs 2,700 per sq.ft (2024)
• Valmiki Street Extension: Rs 2,700 per sq.ft (2024)
• Valmiki Street: Rs 2,700 per sq.ft (2024)
• Vashan Nagar / Vashantham Nagar: Rs 2,700 per sq.ft (2024)
• Valliammai Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Varadhan Kuttai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Varadhan Kuttai?

The Sub Registrar Office that covers Varadhan Kuttai is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps in maintaining a consistent valuation across different properties in the area.

Frequently asked questions

What is the current guideline value of Varadhan Kuttai?

The current guideline value of Varadhan Kuttai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Varadhan Kuttai has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking a 170% increase overall.

What is the land classification for Varadhan Kuttai?

Varadhan Kuttai is classified as Residential Class II Type - I, indicating its designation for residential use.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Varadhan Kuttai?

Stamp duty for properties in Varadhan Kuttai is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.