Guideline Value

Corporate

Guideline Value for Varathammal Nagar

₹440/sq.ft.

The guideline value for Varathammal Nagar in Pammathukulam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pammathukulam

Village

Redhills

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Varathammal Nagar

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Varathammal Nagar guideline value

The current guideline value of Varathammal Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village under the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - II.

How the guideline value of Varathammal Nagar has changed

The guideline value for Varathammal Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 268 per sq.ft. The 2023 revision saw a significant increase to Rs 400 per sq.ft, followed by another increase to Rs 440 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. The change from 2012 to 2017 represented a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 47%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. Varathammal Nagar's 2024 figure is below this median.

Stamp duty and registration fee for property in Varathammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees together Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Varathammal Nagar?

The Varathammal Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammathukulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Varathammal Nagar?

The current guideline value of Varathammal Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 to Rs 268 per sq.ft.

What are the other streets in Pammathukulam with their guideline values?

Other streets in Pammathukulam include Varadhammal Nagar - II at Rs 660 per sq.ft, Vasanth Nagar, Valli Nagar Annex, Velan City, Velan City Annex, and Velan City - II, all with their respective 2024 values.

What fees are associated with buying property in Varathammal Nagar?

When buying property in Varathammal Nagar, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Varathammal Nagar?

The Redhills Sub Registrar Office covers Varathammal Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.