Guideline Value for VENKATARAMAN STREET

Venkataraman Street guideline value

The current guideline value of Venkataraman Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Venkataraman Street has changed

The guideline value for Venkataraman Street has undergone several revisions over the years. In 2002, the guideline value was Rs 561 per sq.ft, which increased to Rs 623 per sq.ft in 2003, marking an 11% rise. Following this, the value saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 61% change. The next revision in 2012 brought the value down to Rs 6,000 per sq.ft, reflecting a decrease of 33%. However, it rebounded to Rs 4,020 per sq.ft in 2017, which was a 49% increase from the previous revision. The most recent revisions show an increase to Rs 6,000 per sq.ft in 2023, followed by the current value of Rs 6,600 per sq.ft in 2024, which represents a 10% increase.

There are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Venkataraman Street.

• Velu Street Eastern Side Of Arya Gowda Road: Rs 7,700 per sq.ft (2024)
• Vazhai Thoppu: Rs 4,400 per sq.ft (2024)
• Vijayaraghava Chari Ist Street: Rs 7,700 per sq.ft (2024)
• Vadivelpuram: Rs 6,600 per sq.ft (2024)
• 70 Feet Road C.I.T. Nagar West: Rs 15,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 Street?

The Sub Registrar Office that covers Venkataraman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mambalam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The guideline value is set by the Registration Department and reflects the market conditions and land classification.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkataraman Street?

The current guideline value of Venkataraman Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 561 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 1076% over the years.

What is the land classification of Venkataraman Street?

Venkataraman Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Venkataraman Street?

The Sub Registrar Office for Venkataraman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Venkataraman Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.