Guideline Value for VENKATESWARA AVENUE

Venkateswara Avenue guideline value

The current guideline value of Venkateswara Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkateswara Avenue has changed

The guideline value for Venkateswara Avenue has seen several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Venkateswara Avenue. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Venkateswara Avenue.

• Venkateswaran Nagar: Rs 2,200 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 4,400 per sq.ft (2024)
• Vigneshwara Colony: Rs 3,300 per sq.ft (2024)
• Vinayaga Avenue: Rs 6,600 per sq.ft (2024)
• Vinayaga Avenue (Near P.T.C.Quarters): Rs 3,300 per sq.ft (2024)
• Vinayaga Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara Avenue?

The Sub Registrar Office covering Venkateswara Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Okkiyamthuraipakkam. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction. This ensures that the property is registered at a value that reflects the current market conditions and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Venkateswara Avenue?

The current guideline value of Venkateswara Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Venkateswara Avenue?

The land classification for Venkateswara Avenue is Residential Class II Type - I.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Venkateswara Avenue?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.