Guideline Value for Venkataraman Street

Venkataraman Street guideline value

The current guideline value of Venkataraman 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, classified as Residential Class I Type - II.

How the guideline value of Venkataraman Street has changed

The guideline value for Venkataraman Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in the 2024 revision, representing a 6% increase from the previous year.

In summary, the changes between the revisions show a 49% increase from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, indicating that Venkataraman Street's 2024 figure is below this median.

• Venkatarama Iyer 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 Venkataraman 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 to Rs 1,71,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkataraman Street?

The Venkataraman Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value helps ensure compliance with legal requirements and accurate financial planning. Buyers and sellers should always check the latest guideline values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkataraman Street?

The current guideline value of Venkataraman 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 increased 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 of Venkataraman Street?

Venkataraman Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties here?

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.

Where is the Sub Registrar Office for Venkataraman Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.