Guideline Value for VENKATARAMAN NAGAR "RAILWAY BORDER ROAD"

Venkataraman Nagar "railway Border Road" guideline value

The current guideline value of Venkataraman Nagar "railway Border Road" is Rs 4,400 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 Mixed Type - II.

How the guideline value of Venkataraman Nagar "railway Border Road" has changed

The guideline value for Venkataraman Nagar "railway Border Road" has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft, which rose to Rs 600 per sq.ft in 2007, marking an increase of 224%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 567%. However, between 2012 and 2017, the guideline value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is an increase of 64% from the 2017 figure.

Overall, from 2002 to 2024, the guideline value has increased by 2,278%. The register has no figures for the years 2023 and 2003 for 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, with a median value of Rs 2,500 per sq.ft. The guideline value for Venkataraman Nagar "railway Border Road" is above this median.

• Venkataraman Nagar "pillaiyar Koil Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "ramalinga Achari Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 3rd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "rukmaniammal Street": Rs 3,300 per sq.ft (2024)
• VENKATARAMAN NAGAR "LAKSHMANAMUTHALIAR 2nd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "south Railway Station Road": Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "railway Border Road"

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkataraman Nagar "railway Border Road"?

The Venkataraman Nagar "railway Border Road" 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkataraman Nagar "railway Border Road"?

The current guideline value of Venkataraman Nagar "railway Border Road" is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 185 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which represents an overall increase of 2,278%.

What is the land classification for Venkataraman Nagar "railway Border Road"?

The land classification for Venkataraman Nagar "railway Border Road" is Mixed Type - II.

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. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 at 7% of the guideline value.