Guideline Value for VENKATARAMAN NAGAR "THIRU.VI.KA.STREET"

Venkataraman Nagar "thiru.VI.Ka.Street" guideline value

The current guideline value of Venkataraman Nagar "thiru.VI.Ka.Street" is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Venkataraman Nagar "thiru.VI.Ka.Street" has changed

The guideline value for Venkataraman Nagar "thiru.VI.Ka.Street" has undergone several revisions over the years. In 2002, the guideline value was Rs 185 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This was a significant rise of 224%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400% over the previous revision. However, it saw a decrease to Rs 2,010 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. The register has no figure for this street in 2003.

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 for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Venkataraman Nagar "thiru.VI.Ka.Street" above this median.

• Venkataraman Nagar "sri Krishnasamy Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "venugopal Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "south Railway Station Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "v.O.C.Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "rukmaniammal Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "ramalinga Achari Street": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Nagar "thiru.VI.Ka.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 at 7% would amount to 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 or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkataraman Nagar "thiru.VI.Ka.Street"?

The Sub Registrar Office that covers Venkataraman Nagar "thiru.VI.Ka.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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees, which are mandatory for all property transactions. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives due revenue from property transactions.

When you proceed with a property transaction, the guideline value helps establish a baseline for the property's worth in the eyes of the registration department. This ensures that all parties involved are aware of the financial implications of the transaction, including the necessary fees and taxes that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value for Venkataraman Nagar "thiru.VI.Ka.Street"?

The current guideline value for Venkataraman Nagar "thiru.VI.Ka.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 185 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1684% over the years.

What is the land classification for Venkataraman Nagar "thiru.VI.Ka.Street"?

Venkataraman Nagar "thiru.VI.Ka.Street" is classified as Residential Special Type - III, indicating its specific use and zoning regulations.

Where can I find the registration office for Venkataraman Nagar?

The registration office for Venkataraman Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,31,000.