Guideline Value for Bandala Venugopal Street

Bandala Venugopal Street guideline value

The current guideline value of Bandala Venugopal Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bandala Venugopal Street has changed

The guideline value for Bandala Venugopal Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,650 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. However, the register has no figure for this street in the years 2002, 2003, and 2017.

From the 2023 revision to the 2024 revision, the guideline value increased by 10%, bringing it to Rs 6,600 per sq.ft. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 300% in the guideline value.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value for Bandala Venugopal Street.

• Bandi Venkatesan 1st Street & Lane: Rs 8,800 per sq.ft (2024)
• Bandi Venkatesan Street: Rs 8,800 per sq.ft (2024)
• Bangaru Street: Rs 7,700 per sq.ft (2024)
• Balamuthu Street: Rs 6,600 per sq.ft (2024)
• Barbar Agan Street: Rs 5,500 per sq.ft (2024)
• Bells Road (Jagajivanram Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bandala Venugopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, together totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bandala Venugopal Street?

The Sub Registrar Office that covers Bandala Venugopal Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bandala Venugopal Street?

The current guideline value of Bandala Venugopal Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,650 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing a total increase of 300% over the years.

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

Other streets in Triplicane include Bandi Venkatesan 1st Street & Lane at Rs 8,800 per sq.ft, Bandi Venkatesan Street at Rs 8,800 per sq.ft, and Bangaru Street at Rs 7,700 per sq.ft, among others.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles the registration for Bandala Venugopal Street?

The registration for Bandala Venugopal Street is handled by the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.