Guideline Value for VENKATESHWARA AVENUE PHASE I & II

Venkateshwara Avenue Phase I & II guideline value

The current guideline value for Venkateshwara Avenue Phase I & II is Rs 600 per sq.ft. This property is located in Paandoor village under the Thiruporur SRO, classified as Residential Special Type - I.

How the guideline value of Venkateshwara Avenue Phase I & II has changed

Since the 2012 revision, the guideline value for Venkateshwara Avenue Phase I & II has shown no overall change, remaining at Rs 600 per sq.ft in both the 2012 and 2024 revisions. The 2017 revision saw a significant increase to Rs 402 per sq.ft, marking a 49% rise from the previous figure in 2012.

In contrast, the 2023 revision maintained the guideline value at Rs 600 per sq.ft, reflecting a 0% change from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paandoor

In Paandoor, there are 35 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 3,300 per sq.ft, with a median value of Rs 1,493 per sq.ft. The guideline value for Venkateshwara Avenue Phase I & II is below this median, indicating a lower valuation compared to other streets in the area.

• Venkateshwar Avenue: Rs 805 per sq.ft (2024)
• Velan Avenue: Rs 1,493 per sq.ft (2024)
• United Enclave: Rs 2,000 per sq.ft (2024)
• VSV Avenue: Rs 1,110 per sq.ft (2024)
• Sri Sumangali Nagar: Rs 1,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Avenue Phase I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is calculated at 7%, resulting in Rs 42,000, while the registration fee at 2% totals Rs 12,000. Together, the total fees would be Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property transaction.

Which Sub Registrar Office covers Venkateshwara Avenue Phase I & II?

The Venkateshwara Avenue Phase I & II falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Paandoor

The guideline value serves as a benchmark for property transactions in Paandoor, determining the minimum price at which a property can be registered. When buying or selling a property, the guideline value is essential for calculating the applicable stamp duty and registration fees.

During the registration process, the authorities will assess the property based on the guideline value to ensure that the transaction is compliant with local regulations. This ensures transparency and helps in maintaining accurate records of property ownership.

Frequently asked questions

What is the current guideline value for Venkateshwara Avenue Phase I & II?

The current guideline value for Venkateshwara Avenue Phase I & II is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft in both the 2012 and 2024 revisions. The most significant change occurred between 2012 and 2017, where it increased from Rs 402 per sq.ft to Rs 600 per sq.ft.

What is the land classification for Venkateshwara Avenue Phase I & II?

The land classification for Venkateshwara Avenue Phase I & II is Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,00,000, the stamp duty is Rs 42,000 and the registration fee is Rs 12,000, totaling Rs 54,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Venkateshwara Avenue Phase I & II?

The Sub Registrar Office covering Venkateshwara Avenue Phase I & II is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.