Guideline Value for Venkatesan Naicken 3rd Street

Venkatesan Naicken 3rd Street guideline value

The current guideline value of Venkatesan Naicken 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatesan Naicken 3rd Street has changed

The guideline value for Venkatesan Naicken 3rd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,145 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Between the 2007 and 2012 revisions, there was a remarkable increase of 424%. Overall, from 2007 to 2024, the guideline value has risen by 476%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

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 for these streets is Rs 6,600 per sq.ft, which is the same as the current guideline value for Venkatesan Naicken 3rd Street.

• Venkatesan Naicken Street: Rs 6,600 per sq.ft (2024)
• Venkatesan 2nd Street: Rs 6,600 per sq.ft (2024)
• Venkatesan 1st 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 Naicken 3rd 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 and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkatesan Naicken 3rd Street?

The Sub Registrar Office that covers Venkatesan Naicken 3rd 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 details.

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

The guideline value plays a crucial role when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate the associated costs. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesan Naicken 3rd Street?

The current guideline value of Venkatesan Naicken 3rd 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 from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Which office handles property registrations for Venkatesan Naicken 3rd Street?

The Triplicane Sub Registrar Office handles property registrations for Venkatesan Naicken 3rd Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Venkatesan Naicken 3rd Street?

The land classification for Venkatesan Naicken 3rd Street is Residential Class I Type - I, indicating its suitability for residential purposes.