Guideline Value for Venkatachala Chetty Street

Venkatachala Chetty Street guideline value

The current guideline value of Venkatachala Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatachala Chetty Street has changed

Over the years, the guideline value of Venkatachala Chetty Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,145 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a 424% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it has increased to Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 476%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is the same as the current guideline value for Venkatachala Chetty Street.

• Venkatachala Mudali Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 1st Lane: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 2nd Lane: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 3rd Lane: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken Street: Rs 6,600 per sq.ft (2024)
• Venkatesan 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachala Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, leading to a total of Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatachala Chetty Street?

The Sub Registrar Office that covers Venkatachala Chetty Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Venkatachala Chetty Street?

The current guideline value of Venkatachala Chetty Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,94,000.

Which office handles registrations for Venkatachala Chetty Street?

The Triplicane Sub Registrar Office handles registrations for Venkatachala Chetty Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Venkatachala Chetty Street?

Venkatachala Chetty Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.