Guideline Value for Venkatrangam Pillai Street

Venkatrangam Pillai Street guideline value

The current guideline value of Venkatrangam Pillai Street is Rs 8,800 per sq.ft. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - I land.

How the guideline value of Venkatrangam Pillai Street has changed

Over the years, the guideline value of Venkatrangam Pillai Street has seen significant changes. Starting from the 2007 revision, the guideline value was Rs 1,145 per sq.ft, which increased dramatically to Rs 8,000 per sq.ft in 2012, marking a rise of 599%. However, it then decreased to Rs 5,360 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 8,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 8,800 per sq.ft, showing a 10% increase from the previous year.

In summary, the guideline value has risen from Rs 1,145 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, which is an overall increase of 669%. There are no figures available for the years 2002 and 2003 in the register 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, placing Venkatrangam Pillai Street's current value above this median.

• Venkatrangam Pillai lane: Rs 6,600 per sq.ft (2024)
• Venkatrangam Pillai 2nd Lane: Rs 6,600 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatrangam Pillai Street?

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

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

The guideline value is an essential factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in establishing a fair basis for the transaction. It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Venkatrangam Pillai Street?

The current guideline value of Venkatrangam Pillai Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,145 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 669% over the years.

What is the median guideline value for streets in Triplicane?

The median guideline value for the 415 streets in Triplicane under the Triplicane SRO is Rs 6,600 per sq.ft, with Venkatrangam Pillai Street's value being above this median.

What are the stamp duty and registration fees for a property in Venkatrangam Pillai Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles property registrations for Venkatrangam Pillai Street?

The Triplicane Sub Registrar Office handles property registrations for Venkatrangam Pillai Street, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.