Guideline Value for VENUGOPAL PILLAI STREET

Venugopal Pillai Street guideline value

The current guideline value of Venugopal Pillai Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Venugopal Pillai Street has changed

The guideline value for Venugopal Pillai Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is a significant increase from Rs 1,500 per sq.ft in 2023, marking a change of +32%. Prior to that, the value was Rs 1,206 per sq.ft in 2017, reflecting an increase of +24% from that year to 2023. The value in 2012 was Rs 1,800 per sq.ft, which shows a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the last recorded values before 2012 were not available.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is equal to the value for Venugopal Pillai Street.

• Vetri Nagar: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 1,980 per sq.ft (2024)
• Veerama Munivar Street: Rs 1,980 per sq.ft (2024)
• Vaijayanthi Mala Bali Street: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Venugopal Pillai Street?

Venugopal Pillai Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accordingly.

When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Venugopal Pillai Street?

The current guideline value of Venugopal Pillai Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024, showing an overall increase of +10%. The most significant change occurred between 2023 and 2024, with a +32% increase.

Which Sub Registrar Office should I visit for transactions on Venugopal Pillai Street?

The Pallavaram Sub Registrar Office covers Venugopal Pillai Street. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,78,200.

Are there other streets in Thiruvancheri with the same guideline value?

Yes, there are several other streets in Thiruvancheri that share the same guideline value of Rs 1,980 per sq.ft, including Vembuliamman Koil Street, Veerama Munivar Street, Vaijayanthi Mala Bali Street, Thiruvalluvar Street, and Thirumalai Nagar.