Guideline Value for VENKATESAPURAM NEW COLONY 1ST CROSS STREET

Venkatesapuram New Colony 1st Cross Street guideline value

The current guideline value for Venkatesapuram New Colony 1st Cross Street is Rs 2,200 per sq.ft. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Venkatesapuram New Colony 1st Cross Street has changed

The guideline value for Venkatesapuram New Colony 1st Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,340 per sq.ft before rising again to Rs 2,000 per sq.ft in 2023. The latest revision effective from 1 July 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions show a 300% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then increased by 49% from 2017 to 2023, culminating in a 10% rise from 2023 to 2024. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, the guideline values range 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 for Venkatesapuram New Colony 1st Cross Street is below this median.

• Venkatesapuram New Colony: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram New Colony Mainroad: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 8th 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 New Colony 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkatesapuram New Colony 1st Cross Street?

The Sub Registrar Office that covers Venkatesapuram New Colony 1st Cross Street is 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 during the registration of property transactions in Perambur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's assessed value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures compliance with local regulations and provides transparency in property transactions.

Frequently asked questions

What is the current guideline value for Venkatesapuram New Colony 1st Cross Street?

The current guideline value for Venkatesapuram New Colony 1st Cross 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing a significant increase over the years, with various revisions impacting the rate.

What is the stamp duty rate applicable in Venkatesapuram New Colony?

The stamp duty rate applicable for property transactions in Venkatesapuram New Colony is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkatesapuram New Colony?

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

What are the guideline values for other streets in Perambur?

The guideline values for other streets in Perambur vary, with the range being from Rs 1,600 to Rs 7,100 per sq.ft, while Venkatesapuram New Colony 1st Cross Street is currently valued at Rs 2,200 per sq.ft.