Guideline Value for VENKATESAN GARDEN

Venkatesan Garden guideline value

The current guideline value of Venkatesan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Venkatesan Garden has changed

The guideline value for Venkatesan Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent 2024 revision increased it to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Venkatesan Garden's 2024 figure is below this median.

• Velu Thottam/Jagatheesan Thottam: Rs 1,100 per sq.ft (2024)
• Velu Garden (Thottam): Rs 1,100 per sq.ft (2024)
• Vellalar Street: Rs 3,300 per sq.ft (2024)
• Velallar Salai: Rs 3,300 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 Uthandi

The guideline value is a critical factor in the registration of property transactions in Uthandi. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these charges are based on a standardized assessment of property values.

When buying or selling property, the guideline value helps to establish a fair basis for the transaction, providing transparency and consistency in the registration process. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property deals.

Frequently asked questions

What is the current guideline value of Venkatesan Garden?

The current guideline value of Venkatesan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Venkatesan Garden?

Venkatesan Garden is classified as Residential Class III Type - I.

Which office handles registrations for properties in Venkatesan Garden?

The Neelankarai Sub Registrar Office handles registrations for properties in Venkatesan Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for Venkatesan Garden?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.