Guideline Value for VENGOPAL STREET

Vengopal Street guideline value

The current guideline value of Vengopal Street is Rs 626 per sq.ft, effective from 1 July 2024. This street is located in Kakkalur village under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Vengopal Street has changed

Looking at the revisions, the guideline value for Vengopal Street has seen several changes over the years. The 2007 revision recorded a value of Rs 100 per sq.ft, which increased significantly to Rs 625 per sq.ft in 2012, marking a rise of 525%. However, from 2012 to 2017, the value dropped to Rs 419 per sq.ft, a decrease of 33%. The value then rose again to Rs 626 per sq.ft in both the 2023 and 2024 revisions, showing a notable increase of 49% from 2017 to 2023.

The register has no figure for Vengopal Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 526%.

Guideline values in Kakkalur

In Kakkalur village, there are 133 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 626 per sq.ft, which is equal to the guideline value of Vengopal Street.

• Vel Murugan Nagar: Rs 626 per sq.ft (2024)
• Veera Ragava Nagar: Rs 626 per sq.ft (2024)
• Veera Anjaneya Puram / Nagar: Rs 626 per sq.ft (2024)
• Venkatswara Nagar: Rs 626 per sq.ft (2024)
• Vetri Nagar: Rs 626 per sq.ft (2024)
• Valluvar Cross Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Vengopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, and the registration fee at 2% would be Rs 12,520, totaling Rs 56,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vengopal Street?

The Sub Registrar Office that covers Vengopal Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kakkalur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. This ensures that the transaction is recorded accurately in accordance with the prevailing rates set by the registration department.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value provides a benchmark for both parties and is a critical factor in the registration process.

Frequently asked questions

What is the current guideline value of Vengopal Street?

The current guideline value of Vengopal Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 100 per sq.ft in 2007 to Rs 626 per sq.ft in 2024, marking an overall increase of 526% over the years.

Where can I find the registration office for Vengopal Street?

The registration office for Vengopal Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

What is the stamp duty rate applicable for properties in Vengopal Street?

The stamp duty rate applicable for properties in Vengopal Street is 7% of the guideline value or sale price, whichever is higher.

What does the guideline value indicate?

The guideline value indicates the minimum value at which properties in a particular area are registered, helping to determine the stamp duty and registration fees during property transactions.