Guideline Value for Venkatesan 2nd Street

Venkatesan 2nd Street guideline value

The current guideline value of Venkatesan 2nd Street is Rs 6,600 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatesan 2nd Street has changed

Over the years, the guideline value of Venkatesan 2nd Street has seen several revisions. The 2007 revision set the value at Rs 1,145 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, in the 2017 revision, the value dropped to Rs 4,020 per sq.ft. The 2023 revision brought it back up to Rs 6,000 per sq.ft, and as of the 2024 revision, the current guideline value is Rs 6,600 per sq.ft. The changes between these revisions are as follows: a 424% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

The guideline value register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 476%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Venkatesan 2nd Street.

• Venkatesan 1st Street: Rs 6,600 per sq.ft (2024)
• Venkatesan Naicken 3rd Street: Rs 6,600 per sq.ft (2024)
• Venkatesan Naicken Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken Street: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 3rd Lane: Rs 6,600 per sq.ft (2024)
• Venkatachala Naicken 2nd Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatesan 2nd Street?

The Sub Registrar Office that covers Venkatesan 2nd Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. The fees are based on the higher of the guideline value or the sale price, which helps in maintaining fair practices in real estate transactions.

Frequently asked questions

What is the current guideline value of Venkatesan 2nd Street?

The current guideline value of Venkatesan 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 476% over the years.

Where can I find the Sub Registrar Office for Venkatesan 2nd Street?

The Sub Registrar Office for Venkatesan 2nd Street is located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.

What is the land classification for Venkatesan 2nd Street?

Venkatesan 2nd Street is classified as Residential Class I Type - I, which indicates its designation for residential use within the Triplicane area.