Guideline Value for VENKATESWARA OIL MILL STREET

Venkateswara Oil Mill Street guideline value

The current guideline value of Venkateswara Oil Mill Street is Rs 935 per sq.ft. This street is located in Vilingiyambakkam village and falls under the Avadi SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venkateswara Oil Mill Street has changed

The guideline value for Venkateswara Oil Mill Street has experienced several revisions over the years. Starting with the 2003 revision, the value was Rs 200 per sq.ft. This increased to Rs 350 per sq.ft in 2007, then saw a significant rise to Rs 850 per sq.ft in 2012. However, it decreased to Rs 569 per sq.ft in 2017. The value then increased to Rs 850 per sq.ft in 2023 before reaching the current value of Rs 935 per sq.ft in the 2024 revision, effective from 1 July 2024. The register has no figure for this street for the year 2002.

From 2003 to 2024, the guideline value has increased by a total of 368%. The changes between revisions include a 75% increase from 2003 to 2007, a 143% rise from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value is Rs 935 per sq.ft, which is equal to the guideline value of Venkateswara Oil Mill Street.

• Vgn Crofton Gardens: Rs 2,640 per sq.ft (2024)
• V.G.N. Crofton Gardens Extension: Rs 2,640 per sq.ft (2024)
• Vgn Horizon: Rs 4,400 per sq.ft (2024)
• Vgn Sparkle Phase - I: Rs 2,200 per sq.ft (2024)
• Vgn Sparkle Phase - II: Rs 2,200 per sq.ft (2024)
• Vgn Sparkle Phase - III: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Oil Mill Street

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, totaling Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Oil Mill Street?

The Sub Registrar Office that covers Venkateswara Oil Mill Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Vilingiyambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value as it impacts the overall costs involved in the transaction. It is advisable to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Oil Mill Street?

The current guideline value of Venkateswara Oil Mill Street is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2003 to Rs 935 per sq.ft in 2024. Notable changes include a 143% increase from 2007 to 2012 and a 49% increase from 2017 to 2023.

What is the land classification for Venkateswara Oil Mill Street?

The land classification for Venkateswara Oil Mill Street is Residential Class II Type - II, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 9,35,000, the total fees would amount to Rs 84,150.

Where can I find the Sub Registrar Office for Venkateswara Oil Mill Street?

The Avadi Sub Registrar Office covers Venkateswara Oil Mill Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.