Guideline Value for VENKATESAPURAM 3RD STREET

Venkatesapuram 3rd Street guideline value

The current guideline value of Venkatesapuram 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venkatesapuram 3rd Street has changed

The guideline value for Venkatesapuram 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2003, set at Rs 369 per sq.ft. This increased to Rs 500 per sq.ft in 2007, then surged to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value saw a significant rise to Rs 2,000 per sq.ft in 2023, and it currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

Notably, there is no guideline value recorded for Venkatesapuram 3rd Street in 2002. The changes between revisions are as follows: from 2003 to 2007, the increase was +36%; from 2007 to 2012, the decrease was -33%; from 2012 to 2017, the value dropped again by -33%; a significant increase of +49% occurred from 2017 to 2023; and finally, there was a +10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +496%.

Guideline values in Perambur

In Perambur village, there are a total of 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Venkatesapuram 3rd Street is below this median.

• Venkatesapuram 2nd 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 1st Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatesapuram 3rd Street?

The Venkatesapuram 3rd Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When you buy or sell property, the guideline value helps determine the minimum value on which taxes are calculated. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesapuram 3rd Street?

The current guideline value of Venkatesapuram 3rd Street is Rs 2,200 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 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +496% over this period.

What is the land classification for Venkatesapuram 3rd Street?

Venkatesapuram 3rd Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Venkatesapuram 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would amount to Rs 1,54,000.