Guideline Value for VENUGOPAL NAGAR 2ND STREET

Venugopal Nagar 2nd Street guideline value

The current guideline value of Venugopal Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal 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 Venugopal Nagar 2nd Street has changed

The guideline value of Venugopal Nagar 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. There are no figures available for the revisions in 2002 and 2003 for this street in the register.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Venugopal Nagar 2nd Street's 2024 figure below that median.

• Venugopal Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Venugopal Nagar Ist Street: Rs 1,650 per sq.ft (2024)
• Venugopal Nagar: Rs 1,650 per sq.ft (2024)
• Venugopalapuram: Rs 2,750 per sq.ft (2024)
• V.G.N. Nagar: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, making the total Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venugopal Nagar 2nd Street?

The Sub Registrar Office covering Venugopal Nagar 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value will be considered alongside the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venugopal Nagar 2nd Street?

The current guideline value of Venugopal Nagar 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 changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Venugopal Nagar 2nd Street?

Venugopal Nagar 2nd Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Venugopal Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.