Guideline Value for VENKATESAPURAM NEW COLONY MAINROAD

Venkatesapuram New Colony Mainroad guideline value

The current guideline value of Venkatesapuram New Colony Mainroad is Rs 2,200 per sq.ft, effective from 1 July 2024. 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 Mainroad has changed

The guideline value for Venkatesapuram New Colony Mainroad has seen significant changes over the years. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The current 2024 revision shows a further increase to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Between the 2007 and 2023 revisions, there was a substantial increase of 300%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that Venkatesapuram New Colony Mainroad's 2024 value is below this median.

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

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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Venkatesapuram New Colony Mainroad?

The Sub Registrar Office that covers Venkatesapuram New Colony Mainroad 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 of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the established rates. This helps maintain transparency and compliance within the real estate market.

Frequently asked questions

What is the current guideline value of Venkatesapuram New Colony Mainroad?

The current guideline value of Venkatesapuram New Colony Mainroad is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340% over this period.

What are the stamp duty and registration fees for property in Venkatesapuram New Colony Mainroad?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,98,000.

Which Sub Registrar Office covers Venkatesapuram New Colony Mainroad?

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

What is the land classification of Venkatesapuram New Colony Mainroad?

Venkatesapuram New Colony Mainroad is classified as Residential Class IV Type - I.