Guideline Value for VENUGOPAL CHETTY STREET

Venugopal Chetty Street guideline value

The current guideline value of Venugopal Chetty Street is Rs 3,300 per sq.ft. This street is located in Saidapet village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venugopal Chetty Street has changed

The guideline value for Venugopal Chetty Street has seen several revisions over the years. In 2002, the guideline value was Rs 825 per sq.ft. This increased to Rs 949 per sq.ft in 2003, followed by a decrease to Rs 850 per sq.ft in 2007. The value then rose significantly to Rs 3,000 per sq.ft in 2012, but fell again to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, and the current value is Rs 3,300 per sq.ft effective from 1 July 2024.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is 300%. The jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 is 10%. The value saw a remarkable rise of 253% from 2007 to 2012. There are no figures available for the years not listed in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Venugopal Chetty Street.

• Vijayaragavalu Chetty Street: Rs 3,300 per sq.ft (2024)
• Vijayarangam Chetty Street: Rs 3,300 per sq.ft (2024)
• Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Visaka Garden Street: Rs 4,400 per sq.ft (2024)
• Vaniyar Street: Rs 2,750 per sq.ft (2024)
• West Jones Road: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Chetty Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please 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 Venugopal Chetty Street?

The Sub Registrar Office covering Venugopal Chetty Street 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 Saidapet

The guideline value is an important factor when registering property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Venugopal Chetty Street?

The current guideline value of Venugopal Chetty Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2002 to 2024, the increase is 300%.

What is the classification of Venugopal Chetty Street?

Venugopal Chetty Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Venugopal Chetty Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venugopal Chetty Street?

The Sub Registrar Office for Venugopal Chetty Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.