Guideline Value for Venkataraman Street

Venkataraman Street guideline value

The current guideline value of Venkataraman Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkataraman Street has changed

The guideline value for Venkataraman Street has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 800 per sq.ft. In 2017, this value changed to Rs 536 per sq.ft, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 800 per sq.ft, and the most recent revision in 2024 set it at Rs 880 per sq.ft, reflecting an increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Venkataraman Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this village is Rs 870 per sq.ft, placing Venkataraman Street's 2024 figure above that median.

• Vengadachalam Street: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 803 per sq.ft (2024)
• Venkatraman Street: Rs 880 per sq.ft (2024)
• Veppangulam Street: Rs 880 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Street

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkataraman Street?

The Sub Registrar Office that covers Venkataraman 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkataraman Street?

The current guideline value of Venkataraman Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Venkataraman Street?

For a 1,000 sq.ft plot valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Venkataraman Street?

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

What is the land classification of Venkataraman Street?

Venkataraman Street is classified as Residential Class II Type - I under the guideline value register.