Guideline Value for VENKATARAMAN NAGAR "DHANAPALCHETTY STREET"

Venkataraman Nagar "dhanapalchetty Street" guideline value

The current guideline value for Venkataraman Nagar "dhanapalchetty Street" is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

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

The guideline value for Venkataraman Nagar "dhanapalchetty Street" has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This figure rose dramatically to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest 2024 revision marks an increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 450%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2017.

Guideline values in Korattur

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees amount to 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

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

The Venkataraman Nagar "dhanapalchetty Street" falls under the Villivakkam Sub Registrar Office. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the official value of the property for registration purposes. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to accurately budget for the associated costs of property transactions.

Frequently asked questions

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

The current guideline value of Venkataraman Nagar "dhanapalchetty 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 from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over this period.

What are the applicable fees when purchasing property in Venkataraman Nagar "dhanapalchetty Street"?

The applicable fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Which office handles the registration for Venkataraman Nagar "dhanapalchetty Street"?

The registration for Venkataraman Nagar "dhanapalchetty Street" is handled by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

The land classification for Venkataraman Nagar "dhanapalchetty Street" is Residential Special Type - III.