Guideline Value for VENKATARAMAN NAGAR "PILLAIYAR KOIL STREET"

Venkataraman Nagar "pillaiyar Koil Street" guideline value

The current guideline value for Venkataraman Nagar "pillaiyar Koil 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) and is classified as Residential Special Type - III.

How the guideline value of Venkataraman Nagar "pillaiyar Koil Street" has changed

The guideline value for Venkataraman Nagar "pillaiyar Koil Street" has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. With no figures available for the years 2002, 2003, and 2017, the most recent revision in 2024 shows a value of Rs 3,300 per sq.ft, marking a 10% increase from the 2023 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The 2012 to 2023 revision saw no change, maintaining the value at Rs 3,000 per sq.ft. The substantial increase from Rs 600 in 2007 to Rs 3,300 in 2024 reflects significant growth in the value of this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value 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, placing Venkataraman Nagar "pillaiyar Koil Street" above this median.

• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 3rd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "railway Border Road": Rs 4,400 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "ramalinga Achari Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 1st STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "rukmaniammal Street": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "pillaiyar Koil 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 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 details on calculating these fees.

Which Sub Registrar Office covers Venkataraman Nagar "pillaiyar Koil Street"?

The Venkataraman Nagar "pillaiyar Koil Street" falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent for all transactions.

Frequently asked questions

What is the current guideline value for Venkataraman Nagar "pillaiyar Koil Street"?

The current guideline value for Venkataraman Nagar "pillaiyar Koil 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 a total increase of 450% over the years.

What is the land classification for Venkataraman Nagar "pillaiyar Koil Street"?

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

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Venkataraman Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.