Guideline Value for Venkatalingam chetty lane (Commissionerate street)*

Venkatalingam chetty lane (Commissionerate street)* guideline value

The current guideline value of Venkatalingam chetty lane (Commissionerate street)* is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Venkatalingam chetty lane (Commissionerate street)* has changed

The guideline value for Venkatalingam chetty lane has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this figure decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision marked a rise to Rs 3,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,800 per sq.ft.

Between these revisions, the changes were notable: from 2007 to 2012, there was a substantial increase of +192%. However, from 2012 to 2017, the value decreased by -33%. The value then rose by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of +9%. Overall, from 2007 to 2024, the guideline value has increased by +217%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Venkatalingam chetty lane's 2024 figure below this median.

• Venkatalingam street*: Rs 3,800 per sq.ft (2024)
• Venkata Maistry Street: Rs 7,100 per sq.ft (2024)
• Venkata Iyer street: Rs 5,500 per sq.ft (2024)
• Venkata Iyer lane: Rs 5,500 per sq.ft (2024)
• Venkataratnam street+: Rs 4,900 per sq.ft (2024)
• Velayudham street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatalingam chetty lane (Commissionerate street)*

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Venkatalingam chetty lane (Commissionerate street)*?

The Venkatalingam chetty lane (Commissionerate street)* is covered by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Muthialpet. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

When a property is sold, the guideline value helps in establishing a baseline for the transaction, ensuring that the appropriate taxes are collected. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatalingam chetty lane?

The current guideline value of Venkatalingam chetty lane (Commissionerate street)* is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +217% over the years.

What is the stamp duty rate for properties in Venkatalingam chetty lane?

The stamp duty rate for properties in Venkatalingam chetty lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkatalingam chetty lane?

The Sub Registrar Office covering Venkatalingam chetty lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the median guideline value for streets in Muthialpet?

The median guideline value for streets in Muthialpet is Rs 5,500 per sq.ft, with Venkatalingam chetty lane's current value being below this median.