Guideline Value for VENKATRAMAN STREET SYNDICATE BANK COLONY

Venkatraman Street Syndicate Bank Colony guideline value

The current guideline value of Venkatraman Street Syndicate Bank Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Venkatraman Street Syndicate Bank Colony has changed

The guideline value for Venkatraman Street Syndicate Bank Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 saw a significant increase to Rs 2,750 per sq.ft, marking a change of +64% from the 2017 revision and an overall increase of +10% from the 2012 revision.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. The changes between the revisions highlight a fluctuating guideline value, particularly the drop from 2012 to 2017, which was -33%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Venkatraman Street Syndicate Bank Colony's 2024 figure above that median.

• Venkatnarayanapuram: Rs 1,320 per sq.ft (2024)
• Venkateswara Nagar Extn: Rs 1,650 per sq.ft (2024)
• Vetri Nagar: Rs 1,650 per sq.ft (2024)
• Venkateswara 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 Venkatraman Street Syndicate Bank Colony

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 is charged at 7%, totaling Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Together, the total cost for stamp duty and registration fee is 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatraman Street Syndicate Bank Colony?

The Sub Registrar Office that covers Venkatraman Street Syndicate Bank Colony 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, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that all transactions are conducted at a fair value as determined by the government.

When a property is sold, the guideline value is used to assess the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Venkatraman Street Syndicate Bank Colony?

The current guideline value of Venkatraman Street Syndicate Bank Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value has increased by +10%, moving from Rs 2,500 per sq.ft to Rs 2,750 per sq.ft.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 1,675 per sq.ft, which was a decrease from the previous revision in 2012.

Which Sub Registrar Office covers Pallikaranai?

The Chennai South Joint I Sub Registrar Office covers Pallikaranai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated in Pallikaranai?

Stamp duty in Pallikaranai is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.