Guideline Value for VENKATESHWARAN 2ND STREET

Venkateshwaran 2nd Street guideline value

The current guideline value of Venkateshwaran 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Venkateshwaran 2nd Street has changed

The guideline value for Venkateshwaran 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which matches the current value for Venkateshwaran 2nd Street.

• Venkatesa Street: Rs 1,320 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar Extn: Rs 1,650 per sq.ft (2024)
• Venkatnarayanapuram: Rs 1,320 per sq.ft (2024)
• Venkatraman Street Syndicate Bank Colony: Rs 2,750 per sq.ft (2024)
• Vetri Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwaran 2nd Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 precise calculations based on your property.

Which Sub Registrar Office covers Venkateshwaran 2nd Street?

The Sub Registrar Office that covers Venkateshwaran 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for additional information.

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

The guideline value is an essential factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Pallikaranai, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process. This helps in establishing a transparent transaction between parties involved.

Frequently asked questions

What is the current guideline value of Venkateshwaran 2nd Street?

The current guideline value of Venkateshwaran 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,650 per sq.ft in 2024. This represents a 10% increase from the previous year.

What is the land classification for Venkateshwaran 2nd Street?

The land classification for Venkateshwaran 2nd Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Venkateshwaran 2nd Street?

The Sub Registrar Office for Venkateshwaran 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Venkateshwaran 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 at 7%.