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 2 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 seen several revisions over the years. The register does not have 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 to Rs 10,900 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, there were no recorded figures for the street in the previous years. The current guideline value is above the median of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Venkatarathinam Salai's 2024 figure of Rs 10,900 per sq.ft is 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, bringing the total to Rs 9,81,000. 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 information.

Which Sub Registrar Office covers Venkatarathinam Salai?

The Sub Registrar Office covering 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial component during the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is registered at a value that reflects the current market conditions as determined by the registration department. This ensures transparency and compliance with local regulations.

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 recently?

The guideline value increased from Rs 10,000 per sq.ft in 2023 to Rs 10,900 per sq.ft in 2024, reflecting a change of +9%.

What is the classification of Venkatarathinam Salai?

Venkatarathinam Salai is classified as Residential Class I Type - I under the Chennai Central Joint I SRO.

Where can I find the registration office for Venkatarathinam Salai?

The registration office for Venkatarathinam Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Venkatarathinam Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,09,00,000 would incur a stamp duty of Rs 7,63,000.