Guideline Value for Venu Gopal Swamy Koil Street

Venu Gopal Swamy Koil Street guideline value

The current guideline value of Venu Gopal Swamy Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the Redhills SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Venu Gopal Swamy Koil Street has changed

The guideline value for Venu Gopal Swamy Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 3,471 per sq.ft. This value decreased significantly to Rs 353 per sq.ft in 2003, followed by a modest increase to Rs 400 per sq.ft in 2007. The value then rose sharply to Rs 1,500 per sq.ft in 2012, only to drop to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, which was then revised to the current Rs 1,650 per sq.ft in 2024.

In terms of changes, from 2002 to 2003, there was a decrease of 90%. The value increased by 13% from 2003 to 2007. From 2007 to 2012, the increase was a substantial 275%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Venu Gopal Swamy Koil Street.

• Vetrivel Street: Rs 1,870 per sq.ft (2024)
• Vikkaravandi Govindasamy Street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street: Rs 3,300 per sq.ft (2024)
• V.O.C. Street Lane: Rs 3,300 per sq.ft (2024)
• Vallimayil Market City: Rs 2,210 per sq.ft (2024)
• Vallalar Nagar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venu Gopal Swamy Koil Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 Venu Gopal Swamy Koil Street?

The Sub Registrar Office that covers Venu Gopal Swamy Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Venu Gopal Swamy Koil Street?

The current guideline value of Venu Gopal Swamy Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting various increases and decreases across different revisions.

What is the land classification of Venu Gopal Swamy Koil Street?

Venu Gopal Swamy Koil Street is classified under Residential Class II Type - I.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Venu Gopal Swamy Koil Street?

The Sub Registrar Office for Venu Gopal Swamy Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.