Guideline Value for VENKATARAMAN STREET

Venkataraman Street guideline value

The current guideline value of Venkataraman Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Commercial Special Type - III.

How the guideline value of Venkataraman Street has changed

The guideline value for Venkataraman Street has undergone several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 1,909 per sq.ft. This figure increased to Rs 2,119 per sq.ft in 2003, marking a change of +11%. The value saw a significant rise to Rs 4,395 per sq.ft in 2007, an increase of +107%. In 2012, the value was Rs 16,000 per sq.ft, reflecting a substantial change of +264% from the previous figure. However, it then decreased to Rs 10,720 per sq.ft in 2017, a drop of -33%. The value rose again to Rs 16,000 per sq.ft in 2023, and finally, it reached Rs 17,600 per sq.ft in 2024, an increase of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +822%. The register does not have figures for any other years for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Venkataraman Street's 2024 figure of Rs 17,600 per sq.ft is above this median.

• Venkatanarayana Road: Rs 22,000 per sq.ft (2024)
• Venkatesan Street: Rs 17,600 per sq.ft (2024)
• Vasan Street: Rs 13,200 per sq.ft (2024)
• Vidyodaya 2nd Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Colony 1st Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya Ist Cross Street: Rs 11,000 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 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty, charged at 7%, would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. This ensures that the government receives the appropriate revenue based on the property's value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process is essential for the legal transfer of property ownership and is mandatory for all real estate 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 17,600 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 1,909 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, representing an overall increase of +822% over the years.

What is the land classification of Venkataraman Street?

Venkataraman Street is classified as Commercial Special Type - III, indicating its use for commercial purposes.

What are the stamp duty and registration fees for properties in Venkataraman Street?

For a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000, and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000.

Which Sub Registrar Office covers Venkataraman Street?

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