Guideline Value for VENKATAMMAL SAMADHI STREET

Venkatammal Samadhi Street guideline value

The current guideline value of Venkatammal Samadhi Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Venkatammal Samadhi Street has changed

The guideline value for Venkatammal Samadhi Street has experienced several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. The 2023 revision saw a rise to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The value then rose by 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 345%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Venkatammal Samadhi Street's 2024 figure below this median.

• Venkatapathy Street: Rs 6,000 per sq.ft (2024)
• Venkatasalam Street: Rs 6,500 per sq.ft (2024)
• Venkatathiri Naicken Street: Rs 6,500 per sq.ft (2024)
• Venkatesan Naicken Lane: Rs 5,500 per sq.ft (2024)
• Venkatesan Street: Rs 5,500 per sq.ft (2024)
• Venkatesa Pakthan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatammal Samadhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. Please 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 information.

Which Sub Registrar Office covers Venkatammal Samadhi Street?

Venkatammal Samadhi Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Purasaivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their transactions. The guideline value reflects the government’s assessment of property values in the area and is updated periodically to reflect changes in the market.

Frequently asked questions

What is the current guideline value of Venkatammal Samadhi Street?

The current guideline value of Venkatammal Samadhi Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with notable changes in each revision year.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office handles registrations for Venkatammal Samadhi Street?

The Purasaivakkam Sub Registrar Office at 93/1, Bricklin Road, Otteri, Chennai- 600 012 covers Venkatammal Samadhi Street.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating the applicable stamp duty and registration fees during transactions.