Guideline Value for Vengu Pillai street

Vengu Pillai street guideline value

The current guideline value of Vengu Pillai street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vengu Pillai street has changed

Over the years, the guideline value of Vengu Pillai street has seen significant changes. In 2002, the guideline value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. Following that, the value rose to Rs 1,000 per sq.ft in 2007, and then saw a substantial jump to Rs 3,600 per sq.ft in 2012. However, it decreased to Rs 2,412 per sq.ft in 2017. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

The changes between the revisions indicate a +10% increase from 2002 to 2003, a +51% increase from 2003 to 2007, a +260% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and an +8% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +549%.

Guideline values in Egmore

In Egmore, the guideline values vary across 465 streets under the Periamet SRO, with figures ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing Vengu Pillai street's 2024 figure below that median.

• Venkatachala Acahri street: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy street: Rs 3,900 per sq.ft (2024)
• Vembuli amman koil garden(or) street: Rs 2,800 per sq.ft (2024)
• Venkatachalapathy Street IIIrd Lane: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy Street IInd Lane: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy Street Ist Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vengu Pillai street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vengu Pillai street?

The Sub Registrar Office that covers Vengu Pillai street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of properties in Egmore. 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 based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vengu Pillai street?

The current guideline value of Vengu Pillai street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 601 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +549% over the years.

What are the stamp duty and registration fees for properties in Vengu Pillai street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty is Rs 2,73,000 and the registration fee is Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office is responsible for Vengu Pillai street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, is responsible for Vengu Pillai street.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.