Guideline Value for Venkatarathinam Main Road

Venkatarathinam Main Road guideline value

The current guideline value of Venkatarathinam Main Road is Rs 9,400 per sq.ft, effective from 1 July 2024. This road is located in Pallipattu village under the Adayar SRO, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Venkatarathinam Main Road has changed

Over the years, the guideline value of Venkatarathinam Main Road has seen several revisions. The 2012 revision recorded a guideline value of Rs 8,500 per sq.ft, which was then reduced to Rs 5,695 per sq.ft in the 2017 revision. This marked a decrease of 33%. Following this, the 2023 revision increased the value to Rs 8,500 per sq.ft, and the most recent 2024 revision set it at Rs 9,400 per sq.ft, reflecting an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 9,400 per sq.ft, which is equal to the current guideline value of Venkatarathinam Main Road.

• Venkatarathinam 8th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar Extension 1st Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 6th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar Extension 2nd Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total to Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatarathinam Main Road?

The Adayar Sub Registrar Office covers Venkatarathinam Main Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

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

Frequently asked questions

What is the current guideline value of Venkatarathinam Main Road?

The current guideline value of Venkatarathinam Main Road is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then back to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification for Venkatarathinam Main Road?

Venkatarathinam Main Road is classified as Residential Special Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Pallipattu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 at 7%.