Guideline Value for MINOR VENKATRENGAM PILLAI STREET

Minor Venkatrengam Pillai Street guideline value

The current guideline value of Minor Venkatrengam Pillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class V Type - I.

How the guideline value of Minor Venkatrengam Pillai Street has changed

The guideline value for Minor Venkatrengam Pillai Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this saw a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to Rs 3,300 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2007 to 2012 was a remarkable 329%, while the overall increase from 2007 to 2024 stands at 371%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing Minor Venkatrengam Pillai Street's 2024 figure below that median.

• M.G.R. South Street: Rs 4,400 per sq.ft (2024)
• MMDA B Block - Cross Street: Rs 6,000 per sq.ft (2024)
• MMDA C Block - Pasumpon Street: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - A-Block - Thanneer Thotti Salai: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - A-Block - Thiru VI.Ka. Square: Rs 6,000 per sq.ft (2024)
• M.M.D.A. Colony - B - Block - Kaval Nilayam Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Minor Venkatrengam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Minor Venkatrengam Pillai Street?

The Sub Registrar Office that covers Minor Venkatrengam Pillai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the market value of the property. It is essential for ensuring that the transaction is conducted legally and that all necessary fees are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Minor Venkatrengam Pillai Street?

The current guideline value of Minor Venkatrengam Pillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over this period.

What is the registration office for Minor Venkatrengam Pillai Street?

The registration office for Minor Venkatrengam Pillai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where can I find more information about stamp duty and registration fees?

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