Guideline Value for VENKATESAPURAM 5TH STREET

Venkatesapuram 5th Street guideline value

The current guideline value of Venkatesapuram 5th 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 falls under the Residential Class IV Type - I land classification.

How the guideline value of Venkatesapuram 5th Street has changed

The guideline value for Venkatesapuram 5th 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, marking a 36% rise. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a substantial increase of 300%. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017. Following that, the value rose sharply to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Venkatesapuram 5th Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which means that the guideline value of Venkatesapuram 5th Street is below this median.

• Venkatesapuram 6th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 5th 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, 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 and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatesapuram 5th Street?

The Sub Registrar Office that covers Venkatesapuram 5th 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 when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesapuram 5th Street?

The current guideline value of Venkatesapuram 5th 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, marking a total increase of 496% over the years.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, which is higher than the guideline value of Venkatesapuram 5th Street.

What are the stamp duty and registration fees for a property in Venkatesapuram 5th 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.

Which office handles the registration for Venkatesapuram 5th Street?

The Purasaivakkam Sub Registrar Office handles the registration for Venkatesapuram 5th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.