Guideline Value for Venkateswaran Street /Kamarajar Nagar

Venkateswaran Street /Kamarajar Nagar guideline value

The current guideline value of Venkateswaran Street /Kamarajar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Venkateswaran Street /Kamarajar Nagar has changed

The guideline value has undergone several revisions over the years. Starting from the earliest revision in 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 360 per sq.ft in 2007, which is a 59% increase from the previous year. In 2017, the value surged to Rs 1,206 per sq.ft, representing a remarkable 235% increase from 2007. By 2023, the guideline value further increased to Rs 1,800 per sq.ft, reflecting a 49% rise from 2017.

The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the 2023 figure. It is important to note that the register does not contain a figure for the year 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Venkateswaran Street /Kamarajar Nagar is below this median.

• Venkateswara Nagar: Rs 1,980 per sq.ft (2024)
• Venkataraman Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Venkataraman Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Venkatachalam Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Velmurugan Street: Rs 1,760 per sq.ft (2024)
• Vellangani Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswaran Street /Kamarajar Nagar

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 cost 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 for more detailed calculations.

Which Sub Registrar Office covers Venkateswaran Street /Kamarajar Nagar?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in assessing the official value of the property, which is crucial for tax purposes. It is important for both parties to be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Venkateswaran Street /Kamarajar Nagar?

The current guideline value of Venkateswaran Street /Kamarajar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases over the years, from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, while Venkateswaran Street /Kamarajar Nagar's guideline value is below this median.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Venkateswaran Street /Kamarajar Nagar?

The Pammal Sub Registrar Office handles registrations for Venkateswaran Street /Kamarajar Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.