Guideline Value for Venkatesan Street

Venkatesan Street guideline value

The current guideline value of Venkatesan Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Venkatesan Street has changed

The guideline value for Venkatesan Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Venkatesan Street's 2024 figure below this median.

• Venkataraman Street: Rs 2,420 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 4th Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 3rd Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Street?

The Sub Registrar Office that covers Venkatesan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing a property. This value is established by the government and is updated periodically to reflect market conditions.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives a fair amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over these years.

What are the guideline values for other streets in Thiruneermalai?

Other streets in Thiruneermalai have varying guideline values, with Venkataraman Street at Rs 2,420 per sq.ft and several streets at Rs 1,980 per sq.ft.

What is the registration fee for property in Venkatesan Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.