Guideline Value for Varathapuram Thideer Nagar

Varathapuram Thideer Nagar guideline value

The current guideline value of Varathapuram Thideer Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This locality is part of Adayar village, which falls under the Adayar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Varathapuram Thideer Nagar has changed

The guideline value for Varathapuram Thideer Nagar has undergone several revisions over the years. The earliest available figure is from 2007, when the value was Rs 2,500 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a 100% rise. However, the value then dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. Following this, the value saw a significant increase to Rs 5,000 per sq.ft in 2023, and further rose to the current value of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, indicating that Varathapuram Thideer Nagar's current value is below this median.

• Varathapuram 2nd Street: Rs 6,600 per sq.ft (2024)
• Varathapuram 1st Street: Rs 6,600 per sq.ft (2024)
• Valliammai Achi Road (Kotturpuram): Rs 11,000 per sq.ft (2024)
• Velacheri Road: Rs 10,500 per sq.ft (2024)
• Vellaiyan Road: Rs 10,500 per sq.ft (2024)
• Upparpalayam Anna Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Varathapuram Thideer Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Varathapuram Thideer Nagar?

The Sub Registrar Office that covers Varathapuram Thideer Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is important to note that if the sale price exceeds the guideline value, the stamp duty will be calculated on the sale price. This ensures that both buyers and sellers are aware of the financial implications of their transactions in relation to the guideline value.

Frequently asked questions

What is the current guideline value of Varathapuram Thideer Nagar?

The current guideline value of Varathapuram Thideer Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 120% over these years.

What is the stamp duty for property in Varathapuram Thideer Nagar?

The stamp duty for property in Varathapuram Thideer Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Adayar?

The median guideline value for streets in Adayar is Rs 6,100 per sq.ft, with Varathapuram Thideer Nagar's current value being below this median.