Guideline Value for Venkatcahla Pillai street

Venkatcahla Pillai street guideline value

The current guideline value of Venkatcahla Pillai street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Venkatcahla Pillai street has changed

The guideline value for Venkatcahla Pillai street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value decreased to Rs 2,412 per sq.ft, a drop of 33% from the previous figure. The 2023 revision saw an increase to Rs 3,600 per sq.ft, followed by an 8% rise to the current value of Rs 3,900 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 225%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Venkatcahla Pillai street's 2024 figure is below this median.

• Venkatcahala Naicken lane: 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 Venkatcahla Pillai street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Venkatcahla Pillai street?

The Sub Registrar Office that covers Venkatcahla Pillai 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 crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the minimum price at which a property can be sold or transferred, ensuring that the transaction is recorded accurately for tax purposes.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees that must be paid. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Venkatcahla Pillai street?

The current guideline value of Venkatcahla Pillai street 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 are the stamp duty and registration fees for property in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Venkatcahla Pillai street?

The Periamet Sub Registrar Office handles property registrations for Venkatcahla Pillai street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Venkatcahla Pillai street?

Venkatcahla Pillai street is classified as Residential Class III Type - I, which indicates its suitability for residential development.