Guideline Value for VENKATRAM NAIDU STREET

Venkatram Naidu Street guideline value

The current guideline value of Venkatram Naidu Street is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkatram Naidu Street has changed

The guideline value for Venkatram Naidu Street has seen significant changes over the years. In 2002, the guideline value was Rs 643 per sq.ft. It increased to Rs 705 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial jump to Rs 2,035 per sq.ft in 2007, an increase of 189%. By 2012, the value remained at Rs 5,000 per sq.ft, and there was no figure for this street in the 2017 revision. The 2023 revision recorded the value at Rs 5,000 per sq.ft, and finally, the current value is Rs 5,400 per sq.ft as of 2024, reflecting an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 740%. The changes reflect the evolving landscape of property values in the area, with the most notable increases occurring between 2002 and 2007.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that Venkatram Naidu Street's 2024 figure is above this median.

• Venkatesapuram New Colony: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony Mainroad: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatram Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty, charged at 7%, would be Rs 3,78,000, while the registration fee at 2% would be Rs 1,08,000. The total cost for these fees would be Rs 4,86,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatram Naidu Street?

Venkatram Naidu Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, buyers and sellers must consider the guideline value as it affects the overall cost of the transaction. Understanding the guideline value helps in budgeting for additional expenses beyond the sale price of the property.

Frequently asked questions

What is the current guideline value of Venkatram Naidu Street?

The current guideline value of Venkatram Naidu Street is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 643 per sq.ft in 2002 to Rs 5,400 per sq.ft in 2024, reflecting an overall increase of 740% over this period.

What is the land classification of Venkatram Naidu Street?

Venkatram Naidu Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Venkatram Naidu Street?

For a property valued at Rs 54,00,000, the stamp duty would be Rs 3,78,000 and the registration fee would be Rs 1,08,000, totaling Rs 4,86,000.

Which Sub Registrar Office covers Venkatram Naidu Street?

Venkatram Naidu Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.