Guideline Value for VENKATESAN STREET

Venkatesan Street guideline value

The current guideline value of Venkatesan 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 and is classified as Commercial Special Type - III.

How the guideline value of Venkatesan Street has changed

The guideline value for Venkatesan Street has seen significant changes over the years. In 2002, the value was Rs 2,482 per sq.ft, which increased to Rs 3,200 per sq.ft in 2003, marking a 29% rise. By 2007, the value jumped to Rs 4,000 per sq.ft, reflecting a 25% increase. The value then surged to Rs 16,000 per sq.ft in 2012, a substantial 300% increase from the previous revision. However, it decreased to Rs 10,720 per sq.ft in 2017, indicating a 33% drop. The value rose again to Rs 16,000 per sq.ft in 2023, before reaching the current figure of Rs 17,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 609%. The register has no figures for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Venkatesan Street's 2024 figure above this median.

• Venkataraman Street: Rs 17,600 per sq.ft (2024)
• Venkatanarayana Road: Rs 22,000 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)
• Vidyodaya Main Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan 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 at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesan Street?

The Sub Registrar Office that covers Venkatesan 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value as it affects the calculation of stamp duty and registration fees.

When a property is bought or sold, the guideline value is used to assess the applicable duties. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan 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 2,482 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 609% over this period.

What are the stamp duty and registration fees for properties on Venkatesan 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 Venkatesan Street?

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

What is the land classification of Venkatesan Street?

Venkatesan Street is classified as Commercial Special Type - III, indicating its designation for commercial use under the local regulations.