Guideline Value for VENKATRAMAN STREET

Venkatraman Street guideline value

The current guideline value of Venkatraman Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venkatraman Street has changed

The guideline value for Venkatraman Street has seen several revisions over the years. In 2002, the guideline value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, a jump of +59%. Following this, the value surged to Rs 7,500 per sq.ft in 2012, reflecting a remarkable increase of +387%. However, it dropped to Rs 5,025 per sq.ft in 2017, a decrease of -33%. The value then climbed to Rs 7,500 per sq.ft in 2023, before reaching the current rate of Rs 8,200 per sq.ft in 2024, which is an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +840%. There are no figures available for the revisions in years not listed above for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Venkatraman Street's 2024 figure below this median.

• Venkat Rangam Pillai Street: Rs 7,100 per sq.ft (2024)
• Venkatesapuram Street: Rs 3,300 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Venkatesa Agraharam Lane: Rs 7,100 per sq.ft (2024)
• Venkatasamy Street (Near Appu Mudali Street): Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees to Rs 7,38,000. 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 Venkatraman Street?

The Sub Registrar Office that covers Venkatraman Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that all transactions are recorded accurately and transparently.

It is important for buyers and sellers to be aware of the current guideline value as it directly affects the costs associated with property registration. The guideline value serves as a benchmark for assessing the value of properties in the area.

Frequently asked questions

What is the current guideline value of Venkatraman Street?

The current guideline value of Venkatraman Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 872 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, showing an overall increase of +840% across the years.

What is the land classification of Venkatraman Street?

Venkatraman Street is classified as Residential Class IV Type - I, as per the guidelines set by the Mylapore SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.