Guideline Value for VENPAKKAM ROAD

Venpakkam Road guideline value

The current guideline value of Venpakkam Road is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri_2 village and falls under the Ponneri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venpakkam Road has changed

According to the guideline value register, there are no figures available for Venpakkam Road for the years 2002, 2003, 2007, 2012, and 2017. The last recorded figures were Rs 600 per sq.ft in the 2023 revision, which increased to Rs 700 per sq.ft in the 2024 revision, reflecting a change of +17%.

The 2024 revision marks the current guideline value, while the previous revision in 2023 was Rs 600 per sq.ft. This increase indicates a significant adjustment in the valuation of properties along Venpakkam Road.

Guideline values in Ponneri_2

Ponneri_2 village has a total of 75 streets under the Ponneri SRO, with guideline values ranging from Rs 700 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current guideline value of Venpakkam Road.

• Velavan Nagar: Rs 700 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)
• Vallalar Street: Rs 700 per sq.ft (2024)
• T.H. Road: Rs 702 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,200 per sq.ft (2024)
• Theradi Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venpakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, resulting in a total of Rs 63,000. 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 details.

Which Sub Registrar Office covers Venpakkam Road?

The Sub Registrar Office that covers Venpakkam Road is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor during the registration of property transactions in Ponneri_2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value helps ensure that the transaction reflects the appropriate valuation, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Venpakkam Road?

The current guideline value of Venpakkam Road is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 600 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, marking a change of +17%.

What are the other streets in Ponneri_2 with their guideline values?

Other streets in Ponneri_2 include Velavan Nagar at Rs 700 per sq.ft, Varadhappa Naicken St at Rs 1,200 per sq.ft, Vallalar Street at Rs 700 per sq.ft, T.H. Road at Rs 702 per sq.ft, Thiruvottiyur High Road at Rs 1,200 per sq.ft, and Theradi Cross Street at Rs 1,200 per sq.ft.

What is the registration fee for a property in Venpakkam Road?

The registration fee for a property in Venpakkam Road is calculated based on the guideline value. For example, a property valued at Rs 7,00,000 would incur a registration fee of Rs 14,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Venpakkam Road?

The Sub Registrar Office for Venpakkam Road is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.