Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Venkadu village is Rs 400 per sq.ft, effective from the 2024 revision. This property falls under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. The earliest available figure is from the 2012 revision, which set the value at Rs 400 per sq.ft. This remained unchanged in the subsequent 2017 revision, where it also stood at Rs 400 per sq.ft. However, from 2017 to 2023, the guideline value increased significantly by 49% to Rs 400 per sq.ft. The 2024 revision also maintained this value at Rs 400 per sq.ft, indicating no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision shows no change in the guideline value.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value across these streets is Rs 300 per sq.ft, positioning Main Road's 2024 guideline value above this median.

• Lake View Avenue: Rs 310 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Nadu Stretet: Rs 300 per sq.ft (2024)
• Om Sakthi Sri Ellaiamman Nagar: Rs 400 per sq.ft (2024)
• Othavadai Street: Rs 310 per sq.ft (2024)
• Jeyam Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Main Road?

The Sub Registrar Office that covers Main Road is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Venkadu, as it determines the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Main Road?

The current guideline value of Main Road in Venkadu village is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Main Road has remained Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023.

What is the land classification for Main Road?

Main Road is classified as Residential Special Type - I under the Sriperumpudur SRO.

What are the stamp duty and registration fees for Main Road?

For a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft, the total stamp duty and registration fees would amount to Rs 36,000.

Which office handles registrations for Main Road?

The Sriperumpudur Sub Registrar Office at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone handles registrations for Main Road.