Guideline Value for Venkatrangam Pillai 2nd Lane

Venkatrangam Pillai 2nd Lane guideline value

The current guideline value of Venkatrangam Pillai 2nd Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkatrangam Pillai 2nd Lane has changed

Over the years, the guideline value of Venkatrangam Pillai 2nd Lane has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,145 per sq.ft, which increased to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision marks the current value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

Notably, the increase from the 2007 revision to the 2012 revision was a substantial 424%. Overall, from 2007 to 2024, the guideline value has risen by 476%. There are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which matches the current value for Venkatrangam Pillai 2nd Lane.

• Venkatrangam Pillai lane: Rs 6,600 per sq.ft (2024)
• Venkatrangam Pillai Street: Rs 8,800 per sq.ft (2024)
• Venkatesan Naicken Street: Rs 6,600 per sq.ft (2024)
• Venkatesan Naicken 3rd Street: Rs 6,600 per sq.ft (2024)
• Venkatesan 2nd Street: Rs 6,600 per sq.ft (2024)
• Venkatesan 1st Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatrangam Pillai 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatrangam Pillai 2nd Lane?

The Sub Registrar Office that covers Venkatrangam Pillai 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Triplicane. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Venkatrangam Pillai 2nd Lane?

The current guideline value of Venkatrangam Pillai 2nd Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 476%.

What is the land classification for Venkatrangam Pillai 2nd Lane?

Venkatrangam Pillai 2nd Lane is classified as Residential Class I Type - I under the local regulations.

Where can I find the Sub Registrar Office for this area?

The Triplicane Sub Registrar Office, which covers Venkatrangam Pillai 2nd Lane, is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 5,94,000.