Guideline Value for VENKATAKRISHNA IYER ROAD

Venkatakrishna Iyer Road guideline value

The current guideline value of Venkatakrishna Iyer Road is Rs 13,200 per sq.ft. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkatakrishna Iyer Road has changed

The guideline value for Venkatakrishna Iyer Road has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, reflecting a 10% increase from the 2023 revision, which was Rs 12,000 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 12,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This consistent increase highlights the adjustments made in the valuation of properties in this area.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value range from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Venkatakrishna Iyer Road's 2024 figure above that median.

• Venkatakrishna Lane: Rs 7,100 per sq.ft (2024)
• Venkatachala Street: Rs 7,100 per sq.ft (2024)
• Venkatachalamudali Street: Rs 9,300 per sq.ft (2024)
• Venkatachala Mudali 2nd Street: Rs 7,100 per sq.ft (2024)
• Venkatachala Mudali 1st Street: Rs 7,100 per sq.ft (2024)
• Venkatasamy Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatakrishna Iyer Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatakrishna Iyer Road?

The Sub Registrar Office covering Venkatakrishna Iyer Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a standardized value that reflects the current market conditions. Buyers and sellers can refer to this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Venkatakrishna Iyer Road?

The current guideline value of Venkatakrishna Iyer Road is Rs 13,200 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, marking a 10% increase. The value remained the same at Rs 12,000 per sq.ft from 2012 to 2023.

What is the land classification for Venkatakrishna Iyer Road?

Venkatakrishna Iyer Road is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

Other streets in Mylapore include Venkatakrishna Lane and Venkatachala Street, both valued at Rs 7,100 per sq.ft, and Venkatachalamudali Street at Rs 9,300 per sq.ft in 2024.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.