Guideline Value for Venkatalingam street*

Venkatalingam street* guideline value

The current guideline value of Venkatalingam 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 street* has changed

The guideline value of Venkatalingam street* has seen significant changes over the years. In 2002, the value was Rs 605 per sq.ft, which increased to Rs 688 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped to Rs 1,200 per sq.ft, reflecting a 74% increase. The 2012 revision brought the value to Rs 3,500 per sq.ft, a substantial increase of 192% from the previous figure. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, which represented a 33% drop. The most recent revisions saw the value increase to Rs 3,500 per sq.ft in 2023, and then to Rs 3,800 per sq.ft in 2024, showing a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 528%. The register does not have figures for any other years for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Venkatalingam street* is below this median.

• Venkatalingam chetty lane (Commissionerate 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 street*

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration would be Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatalingam street*?

The Sub Registrar Office that covers Venkatalingam street* is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade 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 is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It is important 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 street*?

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

How much has the guideline value changed over the years?

From 2002 to 2024, the guideline value has increased by 528%, with significant changes occurring in various years, including a drop in 2017 and a rise in 2023 and 2024.

What is the land classification for Venkatalingam street*?

The land classification for Venkatalingam street* is Residential Class III Type - II.

What are the stamp duty and registration fees for property in Venkatalingam street*?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would be Rs 3,42,000, which includes a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000.

Where is the Sub Registrar Office for Venkatalingam street* located?

The Sub Registrar Office for Venkatalingam street* is located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.