Guideline Value for Venkatarama Iyer Street

Venkatarama Iyer Street guideline value

The current guideline value of Venkatarama Iyer Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkatarama Iyer Street has changed

The guideline value for Venkatarama Iyer Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. In 2023, the value increased to Rs 1,800 per sq.ft, followed by a further increase to Rs 1,900 per sq.ft in the 2024 revision, reflecting a change of 6% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 6%. The register has no figures for the years 2002, 2003, and 2007, indicating that there were no recorded values for Venkatarama Iyer Street during those revisions.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. Venkatarama Iyer Street's 2024 guideline value is below this median.

• Venkataraman Street: Rs 1,900 per sq.ft (2024)
• Venkatachalapathy Street: Rs 1,300 per sq.ft (2024)
• Venkat Avenue 1st Street: Rs 1,300 per sq.ft (2024)
• Venkat Avenue 2nd Street: Rs 1,300 per sq.ft (2024)
• Velacherry Main Road: Rs 4,250 per sq.ft (2024)
• Venugopal Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarama Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your stamp duty and registration fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatarama Iyer Street?

The Sub Registrar Office that covers Venkatarama Iyer Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Venkatarama Iyer Street?

The current guideline value of Venkatarama Iyer Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Venkatarama Iyer Street?

Venkatarama Iyer Street is classified as Residential Class I Type - II.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registration for Venkatarama Iyer Street?

The Selaiyur Sub Registrar Office handles property registration for Venkatarama Iyer Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.