Guideline Value for Venkatarathinam Salai

Venkatarathinam Salai guideline value

The current guideline value of Venkatarathinam Salai is Rs 10,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatarathinam Salai has changed

The guideline value for Venkatarathinam Salai has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 10,000 per sq.ft, which increased by 9% to Rs 10,900 per sq.ft in the 2024 revision.

This increase reflects the changes in the guideline value over the last year. The current figure of Rs 10,900 per sq.ft is higher than the previous year's value, indicating a notable adjustment in the guideline value for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Venkatarathinam Salai's 2024 figure above this median.

• Venkataraman Street: Rs 8,700 per sq.ft (2024)
• Veenus Colony 3rd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 2nd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 1st Street: Rs 17,600 per sq.ft (2024)
• Varasidhi Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Varadharajapuram Main Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 10,900 per sq.ft, the total guideline value amounts to Rs 1,09,00,000. The stamp duty at 7% would be Rs 7,63,000, and the registration fee at 2% would be Rs 2,18,000, making the total fees together Rs 9,81,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatarathinam Salai?

The Sub Registrar Office that covers Venkatarathinam Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

When buying or selling property in Mylapore Part 1, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Venkatarathinam Salai?

The current guideline value of Venkatarathinam Salai is Rs 10,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, which is a 9% increase.

What is the land classification of Venkatarathinam Salai?

Venkatarathinam Salai is classified as Residential Class I Type - I.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, ranging from Rs 4,400 to Rs 25,300 per sq.ft. For instance, Venkataraman Street is Rs 8,700 per sq.ft, while Veenus Colony 3rd Street is Rs 17,600 per sq.ft.

Where is the Sub Registrar Office for Venkatarathinam Salai located?

The Sub Registrar Office for Venkatarathinam Salai is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.