Guideline Value for Taluk Office Road

Taluk Office Road guideline value

The current guideline value for Taluk Office Road in Venkatapuram village, under the Adayar SRO, is Rs 10,500 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Taluk Office Road has changed

The guideline value for Taluk Office Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 10,500 per sq.ft, which is an increase of 11% from the 2023 revision of Rs 9,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 6,365 per sq.ft, marking a significant increase of 49% from the previous 2023 figure. The 2012 revision also noted a value of Rs 9,500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 11%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The historical data shows that the guideline value has fluctuated over the years, reflecting changes in the local real estate landscape.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Taluk Office Road's 2024 figure above this median.

• Thamas Nagar: Rs 2,800 per sq.ft (2024)
• Sri Nagar Colony West Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony Temple Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South mada veedhi (Old Central Avenue road): Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony North Mada Veedhi: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Taluk Office Road

For a 1,000 sq.ft plot at the current guideline value of Rs 10,500 per sq.ft, the total guideline value would be Rs 1,05,00,000. The stamp duty at 7% would amount to Rs 7,35,000, and the registration fee at 2% would be Rs 2,10,000, making the total fees Rs 9,45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Taluk Office Road?

The Taluk Office Road is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

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

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are collected. Buyers should be aware that the guideline value can influence the overall cost of the transaction, making it essential to understand the current rates before proceeding.

Frequently asked questions

What is the current guideline value of Taluk Office Road?

The current guideline value of Taluk Office Road is Rs 10,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,500 per sq.ft in 2023 to Rs 10,500 per sq.ft in 2024, an increase of 11%. It was Rs 6,365 per sq.ft in 2017 and Rs 9,500 per sq.ft in 2012.

What is the land classification for Taluk Office Road?

Taluk Office Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the registration office for Taluk Office Road?

The registration office for Taluk Office Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Taluk Office Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,05,00,000 would incur a stamp duty of Rs 7,35,000 at a rate of 7%.