Guideline Value for Venkatraman Street

Venkatraman Street guideline value

The current guideline value of Venkatraman Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkatraman Street has changed

Venkatraman Street has seen several revisions in its guideline value over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 800 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 536 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, and in the latest 2024 revision, it rose further to Rs 880 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Venkatraman Street's 2024 figure above this median.

• Veppangulam Street: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 803 per sq.ft (2024)
• Venkataraman Street: Rs 880 per sq.ft (2024)
• Vengadachalam Street: Rs 880 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatraman Street?

The Sub Registrar Office that covers Venkatraman Street is the Ambattur Sub Registrar Office. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers and sellers must be aware of the current guideline value to accurately calculate the costs associated with the purchase or sale of property.

Frequently asked questions

What is the current guideline value of Venkatraman Street?

The current guideline value of Venkatraman Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Venkatraman Street?

Venkatraman Street is classified as Residential Class II Type - I.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during the registration process.