Guideline Value for VENKATESAN STREET

Venkatesan Street guideline value

The current guideline value of Venkatesan Street is Rs 3,190 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class V Type - I.

How the guideline value of Venkatesan Street has changed

The guideline value for Venkatesan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which was then reduced by 33% to Rs 1,943 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,900 per sq.ft, and the current 2024 revision has further increased it by 10% to Rs 3,190 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Venkatesan Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Perumalagaram

Perumalagaram village has a total of 74 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value for the village is Rs 3,190 per sq.ft, which is the same as the current value for Venkatesan Street.

• Vgn Mahalakshmi Nagar Cross Street: Rs 3,190 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Main Road: Rs 3,190 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase - XII: Rs 7,920 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase XIII: Rs 7,920 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase XIV: Rs 7,920 per sq.ft (2024)
• Vadanoombal Cherry: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total cost to Rs 2,87,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesan Street?

Venkatesan Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When you buy or sell property in this area, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then back to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the median guideline value in Perumalagaram?

The median guideline value in Perumalagaram is Rs 3,190 per sq.ft, which is the same as the current value for Venkatesan Street.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 31,90,000. The stamp duty is Rs 2,23,300, and the registration fee is Rs 63,800, totaling Rs 2,87,100.

Which Sub Registrar Office covers Venkatesan Street?

Venkatesan Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.