Guideline Value for VENKATESAPURAM STREET

Venkatesapuram Street guideline value

The current guideline value of Venkatesapuram Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Venkatesapuram Street has changed

The guideline value for Venkatesapuram Street has undergone several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 900 per sq.ft in 2007, a change of 16%. Following that, there was a significant jump to Rs 3,000 per sq.ft in 2012, representing a 233% increase. However, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 372%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Venkatesapuram Street's 2024 figure below that median.

• Venkatesapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Venkatesa Agraharam Lane: Rs 7,100 per sq.ft (2024)
• Venkatasamy Street (Near Appu Mudali Street): Rs 7,100 per sq.ft (2024)
• Venkatasamy Street (Lloyds Road 3rd Street): Rs 3,300 per sq.ft (2024)
• Venkatasamy Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that the 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 Venkatesapuram Street?

The Sub Registrar Office that covers Venkatesapuram Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Mylapore. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. The guideline value is updated periodically, so staying informed about the latest figures is crucial for anyone involved in real estate in Mylapore.

Frequently asked questions

What is the current guideline value of Venkatesapuram Street?

The current guideline value of Venkatesapuram 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 significantly from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 372%.

What are the stamp duty and registration fees for properties in Venkatesapuram Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Venkatesapuram Street?

The Mylapore Sub Registrar Office covers Venkatesapuram Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore village is Rs 8,800 per sq.ft, with Venkatesapuram Street's 2024 figure being below that median.