Guideline Value for VENKATA PERUMAL STREET

Venkata Perumal Street guideline value

The current guideline value of Venkata Perumal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Venkata Perumal Street has changed

The guideline value for Venkata Perumal Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 329% increase. However, it then decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in the 2024 revision, a 10% rise.

The overall change from 2007 to 2024 is an increase of 371%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, indicating that Venkata Perumal Street's 2024 figure is below this median.

• Venkata Perumal Kulakarai Street: Rs 3,800 per sq.ft (2024)
• Venkatakrishna Nagar Ivth Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Iind Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar III Rd Street: Rs 4,400 per sq.ft (2024)
• Veena Garden: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkata Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkata Perumal Street?

The Sub Registrar Office that covers Venkata Perumal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate activities in the area.

Frequently asked questions

What is the current guideline value of Venkata Perumal Street?

The current guideline value of Venkata Perumal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, which is higher than the current value of Venkata Perumal Street.

What are the stamp duty and registration fees for property in Venkata Perumal Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000 based on the current guideline value of Rs 3,300 per sq.ft.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.