Guideline Value for VENKATARAMAN NAGAR "GANDHI STREET"

Venkataraman Nagar "gandhi Street" guideline value

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

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

The guideline value for Venkataraman Nagar "gandhi Street" has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 185 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 224% rise. By 2012, the value remained at Rs 3,000 per sq.ft, and this was unchanged until 2023. In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2003 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1684%, highlighting significant growth over the years.

Guideline values in Korattur

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

• Venkataraman Nagar "ganapathi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "kannagi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "duraisamy Reddy Street" (All Street): Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "dhanapalchetty Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "gandhi 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees 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.

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

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

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

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are based on a standardized valuation.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Venkataraman Nagar "gandhi 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 seen significant changes, from Rs 185 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1684% over the years.

What are the stamp duty rates for property in Venkataraman Nagar "gandhi Street"?

The stamp duty for property in Venkataraman Nagar "gandhi Street" is charged at 7% of the guideline value or sale price, whichever is higher.

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

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

What is the median guideline value for streets in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, with Venkataraman Nagar "gandhi Street" being above this median at Rs 3,300 per sq.ft.