Guideline Value for VENKATESAPURAM 6TH STREET

Venkatesapuram 6th Street guideline value

The current guideline value of Venkatesapuram 6th 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 6th Street has changed

The guideline value for Venkatesapuram 6th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 369 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 36% rise. By 2012, the value reached Rs 2,000 per sq.ft, representing a significant increase of 300%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw another increase to Rs 2,000 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no recorded guideline value for Venkatesapuram 6th Street in the 2002 revision. 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 that carry 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 6th Street is below this median.

• Venkatesapuram 5th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 3rd 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 6th 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. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram 6th Street?

The Sub Registrar Office that covers Venkatesapuram 6th 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 critical factor when buying or selling property in Perambur as it determines the minimum value at which a property can be registered. It is essential for both buyers and sellers to understand this value as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatesapuram 6th Street?

The current guideline value of Venkatesapuram 6th 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 an overall increase of 496% over the years.

What are the stamp duty and registration fees for property in Venkatesapuram 6th Street?

For a 1,000 sq.ft plot at the current guideline value, the total 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 Venkatesapuram 6th Street?

The Purasaivakkam Sub Registrar Office covers Venkatesapuram 6th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Venkatesapuram 6th Street?

Venkatesapuram 6th Street is classified as Residential Class IV Type - I according to the guideline value register.