Guideline Value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET"

VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET" guideline value

The current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd 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 is Residential Special Type - III.

How the guideline value of VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET" has changed

The guideline value for this street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision marked a rise to Rs 3,000 per sq.ft, followed by the current 2024 revision, which set the value at Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figure for the years 2002 and 2003 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 is Rs 2,500 per sq.ft, and VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET" is above that median.

• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 3rd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "kannagi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "pillaiyar Koil Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "gandhi Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "railway Border Road": Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET"?

The Sub Registrar Office that covers VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET"?

The current guideline value for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd 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 from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

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

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 this street?

The Villivakkam Sub Registrar Office handles registrations for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET".

What is the land classification for this street?

The land classification for VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET" is Residential Special Type - III.