Guideline Value for Dera Venkatasamy Street

Dera Venkatasamy Street guideline value

The current guideline value of Dera Venkatasamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dera Venkatasamy Street has changed

The guideline value for Dera Venkatasamy Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,145 per sq.ft. This value increased significantly to Rs 6,000 per sq.ft in 2012, marking a 424% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 6,000 per sq.ft in 2023, and then again increased to the current value of Rs 6,600 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 476%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values 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 of Dera Venkatasamy Street.

• Devaraja Mudali Street: Rs 7,700 per sq.ft (2024)
• Dawood Street: Rs 6,600 per sq.ft (2024)
• C.N.Krishna Swami Road: Rs 8,800 per sq.ft (2024)
• C.N.Krishna Swami Lane: Rs 7,700 per sq.ft (2024)
• Club House Road: Rs 14,300 per sq.ft (2024)
• Dowlath Khan Bahadur Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Dera Venkatasamy 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, bringing the total charges to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dera Venkatasamy Street?

The Sub Registrar Office that covers Dera Venkatasamy Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. 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 a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the necessary taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Dera Venkatasamy Street?

The current guideline value of Dera Venkatasamy 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 changed several times, starting from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476%.

What is the land classification for Dera Venkatasamy Street?

Dera Venkatasamy Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

How is stamp duty calculated for properties in Dera Venkatasamy Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000.

Where is the Sub Registrar Office for Dera Venkatasamy Street located?

The Sub Registrar Office for Dera Venkatasamy Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.