Guideline Value for Bandi Venkatesan Street

Bandi Venkatesan Street guideline value

The current guideline value of Bandi Venkatesan Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - I.

How the guideline value of Bandi Venkatesan Street has changed

The guideline value for Bandi Venkatesan Street has seen significant changes over the years. In 2007, the guideline value was Rs 945 per sq.ft, which rose dramatically to Rs 8,000 per sq.ft in 2012, marking an increase of 747%. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 831%.

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 guideline value in this area is Rs 6,600 per sq.ft, placing Bandi Venkatesan Street's 2024 figure above this median.

• Bandi Venkatesan 1st Street & Lane: Rs 8,800 per sq.ft (2024)
• Bandala Venugopal Street: Rs 6,600 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 Bandi Venkatesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bandi Venkatesan Street?

The Sub Registrar Office that covers Bandi Venkatesan 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 plays a crucial role during the registration of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

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

Frequently asked questions

What is the current guideline value of Bandi Venkatesan Street?

The current guideline value of Bandi Venkatesan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 945 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, which is an overall increase of 831%.

What is the median guideline value in Triplicane?

The median guideline value in Triplicane is Rs 6,600 per sq.ft, which is below the current guideline value of Bandi Venkatesan Street.

What other streets have similar guideline values in Triplicane?

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

How is the stamp duty calculated for properties in Bandi Venkatesan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7%.