Guideline Value

Corporate

Guideline Value for VENKATESWARA ROAD

₹2480/sq.ft.

The guideline value for Venkateswara Road in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2480 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2480 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹281 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹244 /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
044-29510536
[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 Road

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Venkateswara Road guideline value

The current guideline value of Venkateswara Road is Rs 2,480 per sq.ft, effective from 1 July 2024. This road is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkateswara Road has changed

The guideline value for Venkateswara Road has undergone several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 281 per sq.ft in 2003. Following this, there was a significant rise to Rs 500 per sq.ft in 2007, and then it jumped to Rs 2,250 per sq.ft in 2012. However, it decreased to Rs 1,507 per sq.ft in 2017 before rising again to Rs 2,250 per sq.ft in 2023, and finally reaching Rs 2,480 per sq.ft in 2024.

In terms of percentage changes, the revision from 2023 to 2024 saw an increase of 10%. The period from 2017 to 2023 experienced a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while there was a substantial increase of 350% from 2007 to 2012. Between 2003 and 2007, the guideline value rose by 78%, and from 2002 to 2003, it increased by 15%. Overall, from 2002 to 2024, the guideline value has increased by 916%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 1,930 per sq.ft. The guideline value for Venkateswara Road is above this median.

Stamp duty and registration fee for property in Venkateswara Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,480 per sq.ft, the total guideline value would be Rs 24,80,000. The stamp duty at 7% would amount to Rs 1,73,600, and the registration fee at 2% would be Rs 49,600, bringing the total fees to Rs 2,23,200. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Road?

Venkateswara Road falls under the Chennai South Joint I 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 Karambakkam

The guideline value is a crucial factor when registering property in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying and for sellers to set a competitive price based on the current guideline value.

Frequently asked questions

What is the current guideline value of Venkateswara Road?

The current guideline value of Venkateswara Road is Rs 2,480 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 244 per sq.ft in 2002 to Rs 2,480 per sq.ft in 2024, reflecting an overall increase of 916% over this period.

What is the registration office for Venkateswara Road?

The registration office for Venkateswara Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties on Venkateswara Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,73,600 based on the current guideline value.

What are the other streets with the same guideline value in Karambakkam?

Other streets in Karambakkam, such as Visvanathan 1st Cross Street, Visvanathan 1st Street, and others, also have a guideline value of Rs 2,480 per sq.ft in 2024.