Guideline Value for VENKATARAMAN NAGAR "ANNA STREET"

Venkataraman Nagar "anna Street" guideline value

The current guideline value of Venkataraman Nagar "anna Street" is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Venkataraman Nagar "anna Street" has changed

The guideline value for Venkataraman Nagar "anna Street" has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a notable rise of 224%. By 2012, it remained at Rs 3,000 per sq.ft, and this value persisted through the 2023 revision.

The most recent revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, a 10% increase from the previous year’s value of Rs 3,000 per sq.ft in 2023. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1684%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which means that Venkataraman Nagar "anna Street" is above this median value.

• Venkataraman Nagar "bharathi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "dhanapalchetty Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "duraisamy Reddy Street" (All Street): Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "ganapathi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "gandhi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "kannagi Street": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "anna Street"

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Venkataraman Nagar "anna Street"?

The Venkataraman Nagar "anna Street" falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

Buyers and sellers must be aware that the guideline value can influence the overall cost of transactions, as the duty is charged based on the higher of the guideline value or the sale price. This ensures that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Venkataraman Nagar "anna Street"?

The current guideline value of Venkataraman Nagar "anna 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 increased significantly from Rs 185 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1684%.

What is the land classification for Venkataraman Nagar "anna Street"?

Venkataraman Nagar "anna Street" is classified as Residential Special Type - III.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Venkataraman Nagar "anna Street", located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.