Guideline Value for Venkataraman Iyar Street

Venkataraman Iyar Street guideline value

The current guideline value of Venkataraman Iyar Street is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Venkataraman Iyar Street has changed

The guideline value for Venkataraman Iyar Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 3,700 per sq.ft, which was then reduced to Rs 2,479 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value rebounded significantly to Rs 3,700 per sq.ft in the 2023 revision and further increased to Rs 4,000 per sq.ft in the 2024 revision, reflecting an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Venkataraman Iyar Street. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. Venkataraman Iyar Street's 2024 guideline value of Rs 4,000 per sq.ft is above this median.

• Venkatapuram Thulukanathamman street: Rs 4,000 per sq.ft (2024)
• Venkataraman Naidu street: Rs 4,000 per sq.ft (2024)
• Vengatramaier Street: Rs 4,000 per sq.ft (2024)
• Vengadachalam Street: Rs 4,000 per sq.ft (2024)
• Vellalar Street: Rs 3,600 per sq.ft (2024)
• Velankanni Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Iyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty charged at 7% would be Rs 2,80,000, while the registration fee at 2% would be Rs 80,000, bringing the total cost for these fees to Rs 3,60,000. It is important to note that the 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 Venkataraman Iyar Street?

The Sub Registrar Office that covers Venkataraman Iyar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Venkataraman Iyar Street?

The current guideline value of Venkataraman Iyar Street is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2012 to Rs 2,479 per sq.ft in 2017, then increased to Rs 3,700 per sq.ft in 2023, and finally to Rs 4,000 per sq.ft in 2024.

What is the land classification of Venkataraman Iyar Street?

Venkataraman Iyar Street is classified as Residential Special Type - II under the current guidelines.

Where can I find the Sub Registrar Office for Venkataraman Iyar Street?

The Sub Registrar Office for Venkataraman Iyar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000 at a rate of 7%.