Guideline Value for Venkatesha Iyer Street

Venkatesha Iyer Street guideline value

The current guideline value of Venkatesha Iyer Street is Rs 1,980 per sq.ft. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatesha Iyer Street has changed

The guideline value for Venkatesha Iyer Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,980 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the current 2024 revision shows a 10% increase in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for Venkatesha Iyer Street above this median.

• Venkatesan Street: Rs 1,980 per sq.ft (2024)
• Venkatesan Cross St: Rs 1,650 per sq.ft (2024)
• Venkata swami Street: Rs 1,320 per sq.ft (2024)
• Venkata swami 5th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 4th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 3rd cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesha Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your fees based on the guideline value.

Which Sub Registrar Office covers Venkatesha Iyer Street?

The Sub Registrar Office that covers Venkatesha Iyer Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Venkatesha Iyer Street?

The current guideline value of Venkatesha Iyer Street is Rs 1,980 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Venkatesha Iyer Street?

The land classification for Venkatesha Iyer Street is Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Venkatesha Iyer Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,78,200.