Guideline Value for VENKATESAN GARDEN

Venkatesan Garden guideline value

The current guideline value of Venkatesan Garden is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Venkatesan Garden has changed

The guideline value for Venkatesan Garden has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 750 per sq.ft. This increased to Rs 502 per sq.ft in 2017, followed by a significant rise to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 maintained this figure at Rs 1,000 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it saw a substantial increase of 99%. Overall, from 2012 to 2024, the guideline value has increased by 33%, reflecting the changes in the area.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Venkatesan Garden's 2024 figure below this median.

• Velu Street: Rs 1,700 per sq.ft (2024)
• Velu Garden: Rs 1,700 per sq.ft (2024)
• Vellai Garden: Rs 1,700 per sq.ft (2024)
• Veervanjinathan Street: Rs 1,700 per sq.ft (2024)
• Veerapandiya Kattapomman Street: Rs 1,700 per sq.ft (2024)
• Vedagiri Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesan Garden?

The Sub Registrar Office that covers Venkatesan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chemmancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesan Garden?

The current guideline value of Venkatesan Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2024, with a significant increase of 99% from 2017 to 2023.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft for the year 2024, with Venkatesan Garden's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is set at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.