Guideline Value for VENKATESA AGRAHARAM LANE

Venkatesa Agraharam Lane guideline value

The current guideline value of Venkatesa Agraharam Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Venkatesa Agraharam Lane has changed

The guideline value for Venkatesa Agraharam Lane has seen several revisions over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003. The next recorded revision was in 2012, where the value dropped to Rs 6,500 per sq.ft. In 2017, it further decreased to Rs 4,355 per sq.ft before rising to Rs 6,500 per sq.ft in 2023. The most recent increase is reflected in the 2024 revision, bringing the value to Rs 7,100 per sq.ft. There is no figure available for the year 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 shows a rise of 9%. The significant change from 2002 to 2024 indicates an overall increase of 714%, with the value rising from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024. The fluctuation in values reflects various market conditions and assessments made during the revisions.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Venkatesa Agraharam Lane's 2024 guideline value is below this median.

• Venkatasamy Street (Near Appu Mudali Street): Rs 7,100 per sq.ft (2024)
• Venkatasamy Street (Lloyds Road 3rd Street): Rs 3,300 per sq.ft (2024)
• Venkatasamy Lane: Rs 3,300 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkatesapuram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Agraharam Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatesa Agraharam Lane?

The Sub Registrar Office that covers Venkatesa Agraharam Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Venkatesa Agraharam Lane?

The current guideline value of Venkatesa Agraharam Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 714% over this period.

What is the land classification for Venkatesa Agraharam Lane?

The land classification for Venkatesa Agraharam Lane is Residential Class IV Type - III.

What are the stamp duty and registration fees for properties in this lane?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles the registration for Venkatesa Agraharam Lane?

The Mylapore Sub Registrar Office is responsible for handling registrations for Venkatesa Agraharam Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.