Guideline Value for VENKATESAN LANE

Venkatesan Lane guideline value

The current guideline value of Venkatesan Lane in Puliyur village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - II.

How the guideline value of Venkatesan Lane has changed

The guideline value for Venkatesan Lane has undergone several revisions over the years. In 2002, the guideline value was Rs 563 per sq.ft, which increased to Rs 619 per sq.ft in 2003. This was followed by a significant rise to Rs 1,050 per sq.ft in 2007, and then a substantial increase to Rs 4,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft. The most recent revision in 2024 saw the value rise to Rs 4,400 per sq.ft.

From 2017 to 2024, the increase was 64%. The change from 2012 to 2017 was a decrease of 33%, while from 2007 to 2012, the increase was 281%. The value rose by 70% from 2003 to 2007 and by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 682%. The register has no figure for this street in 2023.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Venkatesan Lane's 2024 guideline value is below this median.

• Venkatachalam Street: Rs 5,800 per sq.ft (2024)
• Venkateswarar Lane: Rs 4,400 per sq.ft (2024)
• Vellalar Street: Rs 5,800 per sq.ft (2024)
• Vellalar 2nd Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Vellalar 1st Lane (Cross Street): Rs 4,600 per sq.ft (2024)
• Veerasami Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Venkatesan Lane?

The Sub Registrar Office that covers Venkatesan Lane is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Puliyur. It serves as the minimum value for which a property can be registered, ensuring that the transaction reflects a fair representation of the property's worth.

When buying or selling, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. These fees are based on the higher of the guideline value or the sale price, ensuring that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesan Lane?

The current guideline value of Venkatesan Lane is Rs 4,400 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 563 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Venkatesan Lane?

Venkatesan Lane is classified as Residential Class IV Type - II according to the guideline value register.

What are the stamp duty and registration fees for property in Venkatesan Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles property registrations in Puliyur?

The Kodambakkam Sub Registrar Office handles property registrations in Puliyur, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.