Guideline Value for VENKATARAMAN NAGAR "RAMALINGA ACHARI STREET"

Venkataraman Nagar "ramalinga Achari Street" guideline value

The current guideline value of Venkataraman Nagar "ramalinga Achari 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 "ramalinga Achari Street" has changed

The guideline value for Venkataraman Nagar "ramalinga Achari Street" has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both 2012 and 2023. The latest revision in 2024 saw a further increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, where the value surged by 400%. Overall, from 2007 to 2024, the guideline value has increased by 450%. There are no figures available for the years 2002, 2003, and 2017 in the register for this street.

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, placing Venkataraman Nagar "ramalinga Achari Street" above this median.

• Venkataraman Nagar "railway Border Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "rukmaniammal Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "pillaiyar Koil Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "south Railway Station Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "LAKSHMANAMUTHALIAR 3rd STREET": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "sri Krishnasamy Street": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "ramalinga Achari 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 charged at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkataraman Nagar "ramalinga Achari Street"?

The Venkataraman Nagar "ramalinga Achari Street" falls under the jurisdiction of 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, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Venkataraman Nagar "ramalinga Achari 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Venkataraman Nagar "ramalinga Achari Street"?

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

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Venkataraman Nagar "ramalinga Achari Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

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