Guideline Value for VENKATARAMAN NAGAR "KANNAGI STREET"

Venkataraman Nagar "kannagi Street" guideline value

The current guideline value of Venkataraman Nagar "kannagi 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. The land classification for this area is Residential Special Type - III.

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

Over the years, the guideline value for Venkataraman Nagar "kannagi Street" has seen significant changes. In the 2002 revision, the guideline value was Rs 185 per sq.ft. This figure increased to Rs 600 per sq.ft in the 2007 revision, marking a substantial rise of 224%. The value remained at Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during these years. However, the latest revision in 2024 saw an increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

From the 2002 revision to the 2024 revision, the overall increase in guideline value is 1,684%. The register has no figures for the years 2003 and 2017 for this street.

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. The median guideline value in this area is Rs 2,500 per sq.ft, placing Venkataraman Nagar "kannagi Street" above that median.

• Venkataraman Nagar "gandhi Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "ganapathi Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd 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 3rd STREET": Rs 3,300 per sq.ft (2024)

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

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

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

The Sub Registrar Office that covers Venkataraman Nagar "kannagi Street" is 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 additional 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 stamp duty and registration fees. These fees are calculated based on the guideline value set by the Registration Department, ensuring that all transactions are compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Venkataraman Nagar "kannagi 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 changed significantly from Rs 185 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,684% over the years.

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

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

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Venkataraman Nagar "kannagi Street"?

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