Guideline Value for Venkatesa(N) 4th Lane

Venkatesa(N) 4th Lane guideline value

The current guideline value of Venkatesa(N) 4th Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkatesa(N) 4th Lane has changed

Since the 2012 revision, the guideline value for Venkatesa(N) 4th Lane has seen an increase of 8%, moving from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The 2023 revision also recorded a value of Rs 1,200 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions that provide a guideline value are from 2012, 2023, and the current 2024 revision.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Venkatesa(N) 4th Lane's 2024 figure below that median.

• Venkatesa(N) 3rd Lane: Rs 1,300 per sq.ft (2024)
• Venkatesa(N) 5th Lane: Rs 1,300 per sq.ft (2024)
• Venkatesa(N) 2nd Lane: Rs 1,300 per sq.ft (2024)
• Venkatesa(N) 1St Lane: Rs 1,300 per sq.ft (2024)
• Venkatachalam Street: Rs 2,200 per sq.ft (2024)
• Venkatachalam Naicken Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa(N) 4th Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% amounts to Rs 91,000, and the registration fee at 2% is Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkatesa(N) 4th Lane?

The Venkatesa(N) 4th Lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. 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 a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which is important for both buyers and sellers to consider during the transaction.

Frequently asked questions

What is the current guideline value for Venkatesa(N) 4th Lane?

The current guideline value for Venkatesa(N) 4th Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The 2023 revision also recorded a value of Rs 1,200 per sq.ft, indicating no change from the previous year.

What are the stamp duty and registration fees for properties in this lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These charges are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Venkatesa(N) 4th Lane?

The registration for Venkatesa(N) 4th Lane is handled by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Venkatesa(N) 4th Lane?

The land classification for Venkatesa(N) 4th Lane is Residential Class II Type - I, indicating its suitability for residential development.