Guideline Value for Venkat Narayana Street

Venkat Narayana Street guideline value

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

How the guideline value of Venkat Narayana Street has changed

Since the 2002 revision, the guideline value for Venkat Narayana Street has seen significant changes. In 2002, the value was Rs 140 per sq.ft, which increased to Rs 234 per sq.ft in 2003. The following revisions showed a substantial rise, with the value reaching Rs 1,200 per sq.ft in 2007, and then Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023 before reaching the current figure of Rs 3,900 per sq.ft in 2024.

The changes between revisions are noteworthy. From 2002 to 2024, the overall increase is +2686%. Between 2017 and 2023, the value increased by +49%, while the change from 2012 to 2017 was a decrease of -33%. The 2007 to 2012 period saw a significant increase of +192%, and the jump from 2003 to 2007 was even more pronounced at +413%. The increase from 2002 to 2003 was +67%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Venkat Narayana Street's current value above this median.

• Venkatesa Nagar: Rs 3,900 per sq.ft (2024)
• Venkatasamy Street: Rs 3,900 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 per sq.ft (2024)
• Vijaya Ganapathi Koil Street Main: Rs 2,800 per sq.ft (2024)
• Vijaya Ganapathi nagar1st Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkat Narayana 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, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkat Narayana Street?

The Sub Registrar Office that covers Venkat Narayana Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the value of the property, which is essential for calculating stamp duty and registration fees.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkat Narayana Street?

The current guideline value of Venkat Narayana 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 140 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +2686% over the years.

What is the land classification for Venkat Narayana Street?

Venkat Narayana Street is classified as Residential Class I Type - III, indicating its designation for residential use.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 3,51,000, including both fees.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.