Guideline Value for Venkataraman Street /Gandhi Nagar

Venkataraman Street /Gandhi Nagar guideline value

The current guideline value of Venkataraman Street /Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkataraman Street /Gandhi Nagar has changed

The guideline value for Venkataraman Street /Gandhi Nagar has seen significant changes over the years. Starting with the 2002 revision, the value was Rs 188 per sq.ft. In 2003, it increased to Rs 213 per sq.ft, marking a rise of 13%. The 2007 revision recorded a substantial jump to Rs 360 per sq.ft, a change of 69%. By the 2017 revision, the value further escalated to Rs 1,507 per sq.ft, reflecting a remarkable increase of 319%. The 2023 revision set the value at Rs 2,250 per sq.ft, which was a 49% increase from 2017. The latest 2024 revision has raised the guideline value to Rs 2,475 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1216%, showcasing a significant upward trend in the valuation of this property.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Venkataraman Street /Gandhi Nagar above the median value.

• Venkataraman Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Venkatachalam Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,980 per sq.ft (2024)
• Velmurugan Street: Rs 1,760 per sq.ft (2024)
• Vellangani Street: Rs 1,760 per sq.ft (2024)
• Venkateswaran Street /Kamarajar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Street /Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, while the registration fee at 2% would be Rs 49,500. Together, the total cost for stamp duty and registration fee would be Rs 2,22,750. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkataraman Street /Gandhi Nagar?

The Sub Registrar Office that covers Venkataraman Street /Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to determine the applicable stamp duty and registration fees. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkataraman Street /Gandhi Nagar?

The current guideline value of Venkataraman Street /Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, representing an overall increase of 1216% over this period.

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

For a property valued at Rs 24,75,000, the stamp duty would be Rs 1,73,250 and the registration fee would be Rs 49,500, totaling Rs 2,22,750.

Which Sub Registrar Office covers Venkataraman Street /Gandhi Nagar?

The Pammal Sub Registrar Office covers Venkataraman Street /Gandhi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Venkataraman Street /Gandhi Nagar?

The land classification for Venkataraman Street /Gandhi Nagar is Residential Class I Type - II.