Guideline Value for VENKATESAPURAM 2ND STREET

Venkatesapuram 2nd Street guideline value

The current guideline value of Venkatesapuram 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Venkatesapuram 2nd Street has changed

The guideline value for Venkatesapuram 2nd Street has seen significant changes over the years. In 2003, the guideline value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2023, marking a 300% increase from 2007. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2003 to 2024, the overall increase in the guideline value is 496%. It is important to note that there are no recorded figures for this street in the revisions for the years 2002, 2012, and 2017.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, indicating that the guideline value for Venkatesapuram 2nd Street is below this median.

• Venkatesapuram 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 2,200 per sq.ft (2024)
• Venkatesa Perumal Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Venkatesapuram 2nd Street?

The Sub Registrar Office that covers Venkatesapuram 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set competitive pricing based on current market standards.

Frequently asked questions

What is the current guideline value of Venkatesapuram 2nd Street?

The current guideline value of Venkatesapuram 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 496% from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Purasaivakkam Sub Registrar Office covers Venkatesapuram 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Venkatesapuram 2nd Street?

The land classification for Venkatesapuram 2nd Street is Residential Class IV Type - I.