Guideline Value for Venkatesa Gramani Street

Venkatesa Gramani Street guideline value

The current guideline value of Venkatesa Gramani Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of Venkatesa Gramani Street has changed

The guideline value for Venkatesa Gramani Street has undergone several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, it saw a decline to Rs 2,345 per sq.ft in 2017. The value then rose significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft as of the 2024 revision. The register has no figures for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 9% from 2023 to 2024. The overall change from 2007 to 2024 reflects a 52% increase in the guideline value. The fluctuations between revisions show varying trends, with the most significant increase occurring between 2023 and 2024.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Venkatesa Gramani Street's 2024 guideline value is above this median.

• Veeramman Koil Street: Rs 3,800 per sq.ft (2024)
• Vedariri Street(Maistry): Rs 4,400 per sq.ft (2024)
• Vannara Street(WashermenStreet): Rs 3,300 per sq.ft (2024)
• Ulagappa maistry street: Rs 6,600 per sq.ft (2024)
• Wallers Road IIIrd Lane: Rs 13,200 per sq.ft (2024)
• wallers Road IIndLane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesa Gramani Street?

The Sub Registrar Office covering Venkatesa Gramani 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 Chindadripet

The guideline value is a critical factor during the registration of property transactions in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Venkatesa Gramani Street?

The current guideline value of Venkatesa Gramani Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 52% over the years.

What is the land classification for Venkatesa Gramani Street?

Venkatesa Gramani Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Venkatesa Gramani Street?

The Sub Registrar Office for Venkatesa Gramani Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chindadripet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.