Guideline Value for VENKATARAMAN NAGAR "RUKMANIAMMAL STREET"

Venkataraman Nagar "rukmaniammal Street" guideline value

The current guideline value for Venkataraman Nagar "rukmaniammal 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, classified as Residential Special Type - III.

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

Historically, the guideline value for Venkataraman Nagar "rukmaniammal Street" has undergone several revisions. In 2007, the value was Rs 600 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in the 2012 revision. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, when it was again maintained at Rs 3,000 per sq.ft. The 2024 revision marked a new increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. Notably, 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 that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value among these streets is Rs 2,500 per sq.ft, indicating that Venkataraman Nagar "rukmaniammal Street" is positioned above this median.

• Venkataraman Nagar "ramalinga Achari Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "south Railway Station Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "railway Border Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "sri Krishnasamy Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "pillaiyar Koil Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "thiru.VI.Ka.Street": Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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.

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

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

The Sub Registrar Office that covers Venkataraman Nagar "rukmaniammal Street" is 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 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 recorded accurately in the official register.

Frequently asked questions

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

The current guideline value of Venkataraman Nagar "rukmaniammal 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, increasing from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 450%.

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

Venkataraman Nagar "rukmaniammal Street" is classified as Residential Special Type - III according to the guideline value register.

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

The Sub Registrar Office for Venkataraman Nagar "rukmaniammal Street" 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 this area?

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 the current rate of 7%.