Guideline Value for VENKADESWARA AVENUE

Venkadeswara Avenue guideline value

The current guideline value of Venkadeswara Avenue is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Venkadeswara Avenue has changed

The guideline value for Venkadeswara Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 440 per sq.ft, an increase from Rs 400 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 268 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and there was a further increase of 10% from 2023 to 2024. Overall, the guideline value has risen by 64% from 2017 to 2024.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Venkadeswara Avenue's 2024 guideline value is below this median.

• Venkadeswara Nagar: Rs 440 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)
• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Vedammal Nagar: Rs 550 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vasantham Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Venkadeswara Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, resulting in a total of Rs 39,600. 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 information.

Which Sub Registrar Office covers Venkadeswara Avenue?

The Sub Registrar Office that covers Venkadeswara Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Minjur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

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

Frequently asked questions

What is the current guideline value of Venkadeswara Avenue?

The current guideline value of Venkadeswara Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in Venkadeswara Avenue?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Venkadeswara Avenue?

The Ponneri Sub Registrar Office handles property registrations for Venkadeswara Avenue. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Venkadeswara Avenue?

Venkadeswara Avenue is classified under Residential Class III Type - I. This classification is important for understanding the zoning regulations and permissible uses for the property.