Guideline Value for VENKATNARAYANAPURAM

Venkatnarayanapuram guideline value

The current guideline value of Venkatnarayanapuram is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Pallikaranai village, under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Venkatnarayanapuram has changed

The guideline value for Venkatnarayanapuram has undergone several revisions since 2002. In 2002, the value was Rs 87 per sq.ft, which increased to Rs 103 per sq.ft in 2003, marking an increase of 18%. The value then rose significantly to Rs 400 per sq.ft in 2007, a change of 288%. By 2012, the value reached Rs 1,200 per sq.ft, reflecting a substantial increase of 200%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is an increase of 64% from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 1,417%. It is important to note that there are no figures for the year 2023 for this street in the register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing the guideline value of Venkatnarayanapuram below that median.

• Venkatraman Street Syndicate Bank Colony: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar Extn: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Vetri Nagar: Rs 1,650 per sq.ft (2024)
• Venkateshwaran 2nd Street: Rs 1,650 per sq.ft (2024)
• Venkatesa Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatnarayanapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatnarayanapuram?

The Sub Registrar Office that covers Venkatnarayanapuram 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. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Pallikaranai, as it determines the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to facilitate the registration process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatnarayanapuram?

The current guideline value of Venkatnarayanapuram is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 87 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,417%.

What is the land classification for Venkatnarayanapuram?

Venkatnarayanapuram is classified as Residential Class IV Type - II, indicating its suitability for residential development.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai under the Chennai South Joint I SRO include Venkatraman Street Syndicate Bank Colony at Rs 2,750 per sq.ft, Venkateswara Nagar Extn at Rs 1,650 per sq.ft, and several others, with values ranging from Rs 1,320 to Rs 2,750 per sq.ft.

How is the stamp duty calculated for properties in Venkatnarayanapuram?

The stamp duty for properties in Venkatnarayanapuram is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.