Guideline Value for RAO SAHIB VENKATAPATHY NAIDU STREET

Rao Sahib Venkatapathy Naidu Street guideline value

The current guideline value of Rao Sahib Venkatapathy Naidu Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Rao Sahib Venkatapathy Naidu Street has changed

Over the years, the guideline value of Rao Sahib Venkatapathy Naidu Street has seen significant changes. The 2007 revision set the value at Rs 2,600 per sq.ft, which increased to Rs 5,500 per sq.ft in the 2012 revision. However, this value decreased by 33% to Rs 3,685 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 5,500 per sq.ft, followed by a further increase of 9% to the current Rs 6,000 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 131%. The changes from 2012 to 2017 saw a decrease, while the subsequent revisions from 2017 to 2023 and from 2023 to 2024 reflect increases in the guideline value.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, making the 2024 figure for Rao Sahib Venkatapathy Naidu Street above this median.

• Rangu Lane: Rs 4,900 per sq.ft (2024)
• Rathinasabapathy Street: Rs 5,500 per sq.ft (2024)
• Rangappa Street: Rs 5,500 per sq.ft (2024)
• Rangapillai Lane: Rs 5,500 per sq.ft (2024)
• Ranganathapuram: Rs 4,900 per sq.ft (2024)
• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rao Sahib Venkatapathy Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. 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 further calculations.

Which Sub Registrar Office covers Rao Sahib Venkatapathy Naidu Street?

The Sub Registrar Office that covers Rao Sahib Venkatapathy Naidu Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated fairly based on the property's value.

When buying or selling property, both parties must consider the guideline value as it impacts the overall transaction costs. It is essential for buyers to be aware of this value to budget appropriately for their property purchases.

Frequently asked questions

What is the current guideline value of Rao Sahib Venkatapathy Naidu Street?

The current guideline value of Rao Sahib Venkatapathy Naidu Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,600 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 131% over this period.

What is the median guideline value in Purasaivakkam?

The median guideline value for the 519 streets in Purasaivakkam is Rs 5,500 per sq.ft. Rao Sahib Venkatapathy Naidu Street's guideline value is above this median.

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

For a property with a guideline value of Rs 6,000 per sq.ft, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000 for a 1,000 sq.ft plot.

Where is the Sub Registrar Office for Rao Sahib Venkatapathy Naidu Street located?

The Sub Registrar Office for Rao Sahib Venkatapathy Naidu Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.