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Guideline Value

Corporate

Guideline Value for VENKATESWARA NAGAR 1ST MAIN ROAD

₹2750/sq.ft.

The guideline value for Venkateswara Nagar 1st Main Road in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹346 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹280 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Venkateswara Nagar 1st Main Road

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Venkateswara Nagar 1st Main Road guideline value

The current guideline value of Venkateswara Nagar 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkateswara Nagar 1st Main Road has changed

The guideline value for Venkateswara Nagar 1st Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 280 per sq.ft. In 2003, it increased to Rs 346 per sq.ft, marking a 24% rise. The following revisions showed significant changes: in 2007, the value jumped to Rs 1,100 per sq.ft, reflecting a 218% increase. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, which was a decline of 33%. However, in 2017, it rebounded to Rs 1,675 per sq.ft, a 49% increase from the previous revision. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by 882%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Venkateswara Nagar 1st Main Road is below this median.

Stamp duty and registration fee for property in Venkateswara Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees Rs 2,47,500. 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 Venkateswara Nagar 1st Main Road?

The Venkateswara Nagar 1st Main Road is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in the property market and helps both parties understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 1st Main Road?

The current guideline value of Venkateswara Nagar 1st Main Road is Rs 2,750 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 280 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 882% over this period.

What are the stamp duty and registration fees for property in Venkateswara Nagar 1st Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Venkateswara Nagar 1st Main Road?

The Chennai South Joint II Sub Registrar Office covers Venkateswara Nagar 1st Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Venkateswara Nagar 1st Main Road?

Venkateswara Nagar 1st Main Road is classified as Residential Class II Type - II, indicating its suitability for residential purposes.