Guideline Value for VENKATACHALAM STREET

Venkatachalam Street guideline value

The current guideline value of Venkatachalam Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatachalam Street has changed

The guideline value for Venkatachalam Street has seen several revisions over the years. In 2002, the value was Rs 795 per sq.ft, which increased to Rs 873 per sq.ft in 2003. The value then rose significantly to Rs 1,650 per sq.ft in 2007, marking an increase of 89%. The next revision in 2012 saw a decrease to Rs 5,300 per sq.ft, a drop of 33%. However, in 2017, the guideline value rebounded to Rs 3,551 per sq.ft, reflecting a 49% increase. The value further increased to Rs 5,300 per sq.ft in 2023 before reaching the current figure of Rs 5,800 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no figures available for the years not listed in the register for Venkatachalam Street. Overall, from 2002 to 2024, the guideline value has increased by 630%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which matches the current guideline value for Venkatachalam Street.

• Venkatesan Lane: Rs 4,400 per sq.ft (2024)
• Vellalar Street: Rs 5,800 per sq.ft (2024)
• Vellalar 2nd Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Vellalar 1st Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Veerasami Street: Rs 6,300 per sq.ft (2024)
• Veerapandiya Nagar 5th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Venkatachalam Street?

The Sub Registrar Office that covers Venkatachalam 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is the basis for calculating the stamp duty and registration fees that are required during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

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

Frequently asked questions

What is the current guideline value of Venkatachalam Street?

The current guideline value of Venkatachalam Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 795 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 630% over this period.

What are the stamp duty rates applicable in Venkatachalam Street?

The stamp duty rate applicable in Venkatachalam Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Venkatesan Lane at Rs 4,400 per sq.ft, Vellalar Street at Rs 5,800 per sq.ft, Vellalar 2nd Lane (Cross Street) at Rs 4,600 per sq.ft, Vellalar 1st Lane (Cross Street) at Rs 4,600 per sq.ft, Veerasami Street at Rs 6,300 per sq.ft, and Veerapandiya Nagar 5th Street at Rs 5,000 per sq.ft.