Guideline Value for Venkatcahala Naicken lane

Venkatcahala Naicken lane guideline value

The current guideline value of Venkatcahala Naicken lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This lane is located in Egmore village and falls under the Periamet SRO with a land classification of Residential Class III Type - I.

How the guideline value of Venkatcahala Naicken lane has changed

The guideline value for Venkatcahala Naicken lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in 2012. However, this value dropped to Rs 2,412 per sq.ft in 2017, marking a decline of 33%. The subsequent revisions saw a substantial increase, with the value rising to Rs 3,600 per sq.ft in 2023, and then to the current Rs 3,900 per sq.ft in 2024, reflecting an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 225%. It is important to note that there are no figures available for this street in the 2002 and 2003 revisions.

Guideline values in Egmore

In Egmore, the guideline values vary significantly, with a total of 465 streets under the Periamet SRO carrying a 2024 figure ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Venkatcahala Naicken lane's 2024 figure below that median.

• Venkatcahla Pillai street: Rs 3,900 per sq.ft (2024)
• Venkatcchala Naicken street: Rs 3,900 per sq.ft (2024)
• Venkatasamy Naidu street: Rs 11,000 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 Venkatcahala Naicken lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatcahala Naicken lane?

Venkatcahala Naicken lane is covered by 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 crucial factor in property transactions in Egmore. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. This value helps ensure that the fees are calculated based on a standardized assessment of property values in the area.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Venkatcahala Naicken lane?

The current guideline value of Venkatcahala Naicken lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 225% over the years.

What is the land classification of Venkatcahala Naicken lane?

Venkatcahala Naicken lane is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Venkatcahala Naicken lane?

The Sub Registrar Office covering Venkatcahala Naicken lane is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees reflect the true value of the transaction.