Guideline Value for VENKATESWARAR LANE

Venkateswarar Lane guideline value

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

How the guideline value of Venkateswarar Lane has changed

The guideline value for Venkateswarar Lane has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 619 per sq.ft. This increased to Rs 1,050 per sq.ft in 2007, marking a change of +70%. The value then saw a significant rise to Rs 4,000 per sq.ft in 2012, which is an increase of +281%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of -33%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, representing an increase of +64% from the 2017 figure. The register has no figure for the years 2023 and 2002.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry 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. The guideline value of Venkateswarar Lane is below this median.

• Venkatesan Lane: Rs 4,400 per sq.ft (2024)
• Venkatachalam Street: Rs 5,800 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 Venkateswarar 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, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswarar Lane?

The Sub Registrar Office that covers Venkateswarar 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 plays a crucial role in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be sold and registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in standardizing the costs associated with property transactions, making it easier for buyers and sellers to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Venkateswarar Lane?

The current guideline value of Venkateswarar 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 619 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +611% over the years.

What is the land classification for Venkateswarar Lane?

Venkateswarar Lane is classified as Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Venkateswarar Lane?

The Kodambakkam Sub Registrar Office, which covers Venkateswarar Lane, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Venkateswarar Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.