Guideline Value for VASANTHA VENKATESAN STREET

Vasantha Venkatesan Street guideline value

The current guideline value of Vasantha Venkatesan Street is Rs 4,185 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village, under the Pammal SRO, and is classified as Mixed Type - II land.

How the guideline value of Vasantha Venkatesan Street has changed

In the 2017 revision, the guideline value was set at Rs 2,550 per sq.ft. This figure saw a significant increase in the 2023 revision, rising to Rs 3,806 per sq.ft, which represents a 49% increase. The most recent revision in 2024 further raised the guideline value to Rs 4,185 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vasantha Venkatesan Street's 2024 figure above this median.

• Venkateswara Nagar: Rs 3,300 per sq.ft (2024)
• V.G.N. Krona Avenue: Rs 2,860 per sq.ft (2024)
• Vgn Krona Phase-2: Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha Venkatesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,185 per sq.ft, the total guideline value amounts to Rs 41,85,000. The stamp duty at 7% would be Rs 2,92,950, and the registration fee at 2% would be Rs 83,700, bringing the total cost for these fees to Rs 3,76,650. 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 Vasantha Venkatesan Street?

The Sub Registrar Office that covers Vasantha Venkatesan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

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

Frequently asked questions

What is the current guideline value of Vasantha Venkatesan Street?

The current guideline value of Vasantha Venkatesan Street is Rs 4,185 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,550 per sq.ft to Rs 4,185 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value for streets in Kerugambakkam?

The median guideline value for streets in Kerugambakkam is Rs 2,200 per sq.ft, with Vasantha Venkatesan Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 41,85,000, the stamp duty would be Rs 2,92,950, and the registration fee would be Rs 83,700, totaling Rs 3,76,650 for these fees.

Which office handles the registration for Vasantha Venkatesan Street?

The registration for Vasantha Venkatesan Street is handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.