Guideline Value for Venkataraman Street

Venkataraman Street guideline value

The current guideline value of Venkataraman Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Venkataraman Street has changed

In the 2017 revision, the guideline value for Venkataraman Street was Rs 1,340 per sq.ft. The recent revision in 2024 has increased this value to Rs 2,200 per sq.ft, marking a significant change of +64% over the seven-year period.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Venkataraman Street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Venkataraman Street's 2024 figure below that median.

• Venkata Ramanuja Iyer compound: Rs 1,650 per sq.ft (2024)
• Venkataraman Cross Street: Rs 1,650 per sq.ft (2024)
• Venkataswamy Street: Rs 1,650 per sq.ft (2024)
• Venkatesan Nagar: Rs 1,650 per sq.ft (2024)
• VenkatesaPerumal Street: Rs 1,650 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Venkataraman Street?

The Venkataraman Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during property registration in Madipakkam-1, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When purchasing property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs associated with the buying process. It is advisable to refer to 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 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, reflecting a change of +64% over this period.

Are there any revisions with no figures for Venkataraman Street?

Yes, the guideline value register has no figures for Venkataraman Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Venkataraman Street.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.