Guideline Value for Venkatraman Street

Venkatraman Street guideline value

The current guideline value of Venkatraman Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Venkatraman Street has changed

The guideline value for Venkatraman Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 1,600 per sq.ft. This figure decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year.

The register has no figures for Venkatraman Street for the years 2002, 2003, and 2007.

Guideline values in Menambedu

Menambedu village has a total of 171 streets under the Ambattur SRO, with guideline values ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Venkatraman Street's 2024 figure above this median.

• Venkateshwara Nagar: Rs 1,002 per sq.ft (2024)
• Venkata Cross Street: Rs 1,001 per sq.ft (2024)
• Vengatachalapathi Street: Rs 1,001 per sq.ft (2024)
• VittalRao Street: Rs 1,700 per sq.ft (2024)
• Vittal Street First Lane: Rs 1,700 per sq.ft (2024)
• Vittal Street (gnanamurthy nagar): Rs 1,700 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 1,700 per sq.ft, the total guideline value is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatraman Street?

The Sub Registrar Office that covers Venkatraman Street is the Ambattur Sub Registrar Office, 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 Menambedu

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

Additionally, the guideline value helps in ensuring transparency in property transactions, as it provides a standardized value that is recognized by the registration authorities in the region.

Frequently asked questions

What is the current guideline value of Venkatraman Street?

The current guideline value of Venkatraman Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Venkatraman Street?

Venkatraman Street is classified as Residential Special Type - I under the guideline value register.

Where can I find the Sub Registrar Office for Venkatraman Street?

The Sub Registrar Office for Venkatraman Street is the Ambattur Sub Registrar Office, 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 Menambedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.