Guideline Value for VENKATESAPURAM 4TH STREET

Venkatesapuram 4th Street guideline value

The current guideline value of Venkatesapuram 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Venkatesapuram 4th Street has changed

Over the years, the guideline value of Venkatesapuram 4th Street has seen significant changes. In the 2003 revision, the guideline value was Rs 369 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 36% rise. The value then surged by 300% to Rs 2,000 per sq.ft in 2012. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and it further increased by 10% to the current value of Rs 2,200 per sq.ft in 2024.

It is important to note that the register has no figure for Venkatesapuram 4th Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, 1114 streets under the Purasaivakkam SRO 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 4th Street is below this median.

• Venkatesapuram 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 2nd 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)
• Venkatesapuram 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 4th 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 cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram 4th Street?

The Sub Registrar Office that covers Venkatesapuram 4th 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 when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Venkatesapuram 4th Street?

The current guideline value of Venkatesapuram 4th 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 from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, representing a significant increase of 496% over this period.

What is the registration office for Venkatesapuram 4th Street?

The registration office for Venkatesapuram 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in Venkatesapuram 4th Street?

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.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value and the calculation of stamp duty and registration fees. It ensures that property transactions are recorded at a fair value as per government regulations.