Guideline Value for VENKADESAN STREET

Venkadesan Street guideline value

The current guideline value of Venkadesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkadesan Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for Venkadesan Street. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Jelandianpettai

In Jelandianpettai village, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Venkadesan Street.

• Veerathamman Koil West Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil East Street: Rs 2,200 per sq.ft (2024)
• Veera Anjaneyar Street: Rs 1,870 per sq.ft (2024)
• Vedhachalam Street: Rs 2,200 per sq.ft (2024)
• Vedhachalam Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkadesan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkadesan Street?

Venkadesan Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Jelandianpettai. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is considered as a benchmark for calculating the applicable fees. It is essential for both parties to understand that the higher of the guideline value and the sale price will be used to calculate the stamp duty.

Frequently asked questions

What is the current guideline value of Venkadesan Street?

The current guideline value of Venkadesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Venkadesan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000, which includes Rs 1,54,000 for stamp duty and Rs 44,000 for registration fees.

Which Sub Registrar Office covers Venkadesan Street?

The Chennai South Joint I Sub Registrar Office covers Venkadesan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Venkadesan Street?

Venkadesan Street is classified as Residential Class II Type - I, indicating its suitability for residential development within the area.