Guideline Value for VENKATACHALA NAICKEN STREET

Venkatachala Naicken Street guideline value

The current guideline value of Venkatachala Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Venkatachala Naicken Street has changed

The guideline value for Venkatachala Naicken Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced the value to Rs 1,340 per sq.ft, marking a decline of 33%. However, the value rebounded in the 2023 revision to Rs 2,000 per sq.ft, and further increased to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Venkatachala Naicken Street's 2024 figure below that median.

• Venkatachalam Street: Rs 3,300 per sq.ft (2024)
• Veterin Lane: Rs 4,400 per sq.ft (2024)
• Valluvar Street: Rs 2,700 per sq.ft (2024)
• Xavier Street: Rs 2,200 per sq.ft (2024)
• Yadaval Street: Rs 2,700 per sq.ft (2024)
• Tennary Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachala Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatachala Naicken Street?

The Sub Registrar Office that covers Venkatachala Naicken Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Cantonment Pallavaram. It is used to determine the stamp duty and registration fees that must be paid during the property transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to consider the guideline value as it ensures compliance with local regulations and helps in assessing the financial obligations associated with the transaction. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatachala Naicken Street?

The current guideline value of Venkatachala Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the 2012 value at Rs 2,000 per sq.ft, dropping to Rs 1,340 per sq.ft in 2017, then rising back to Rs 2,000 in 2023, and finally reaching Rs 2,200 in 2024.

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

For a 1,000 sq.ft plot, the total guideline value would be Rs 22,00,000. The stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Venkatachala Naicken Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Venkatachala Naicken Street?

The land classification for Venkatachala Naicken Street is Residential Class III Type - I.