Guideline Value for Venkatasamy Naidu street

Venkatasamy Naidu street guideline value

The current guideline value of Venkatasamy Naidu street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class I Type - II.

How the guideline value of Venkatasamy Naidu street has changed

The guideline value for Venkatasamy Naidu street has seen significant changes over the years. In 2002, the value was Rs 855 per sq.ft, which increased to Rs 943 per sq.ft in 2003, marking a rise of 10%. Following this, the value rose by 59% to Rs 1,500 per sq.ft in 2007. The value then experienced a substantial increase of 567%, reaching Rs 10,000 per sq.ft in 2012. However, it decreased by 33% to Rs 6,700 per sq.ft in 2017. The value then increased by 49% to Rs 10,000 per sq.ft in 2023, before rising again by 10% to the current value of Rs 11,000 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1,187%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Venkatasamy Naidu street's 2024 figure above that median.

• Venkatcahala Naicken lane: Rs 3,900 per sq.ft (2024)
• Venkatcahla Pillai street: Rs 3,900 per sq.ft (2024)
• Venkatcchala Naicken street: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy Street Ist Lane: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy Street IInd Lane: Rs 3,900 per sq.ft (2024)
• Venkatachalapathy Street IIIrd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasamy Naidu street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty, charged at 7%, would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Therefore, the total cost for these fees would be Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Venkatasamy Naidu street?

The Sub Registrar Office covering Venkatasamy Naidu street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are mandatory and are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkatasamy Naidu street?

The current guideline value of Venkatasamy Naidu street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 855 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 1,187% over this period.

What is the land classification for Venkatasamy Naidu street?

Venkatasamy Naidu street is classified as Residential Class I Type - II under the Periamet SRO.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venkatasamy Naidu street located?

The Sub Registrar Office for Venkatasamy Naidu street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.