Guideline Value for VENUGOPAL NAGAR IST STREET

Venugopal Nagar Ist Street guideline value

The current guideline value of Venugopal Nagar Ist 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 Ist Street has changed

The guideline value for Venugopal Nagar Ist Street has undergone 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% rise. However, it saw a decrease to Rs 1,005 per sq.ft in 2017, a reduction of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and further increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register does not have figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 2,200 per sq.ft. Venugopal Nagar Ist Street's current guideline value is below this median.

• Venugopal Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Venugopal Nagar 2nd 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, 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, making the total cost for these charges 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Venugopal Nagar Ist Street?

Venugopal Nagar Ist Street is covered by 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 during the registration of property transactions in Iyyappanthangal. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers and sellers must consider this value to ensure compliance with the local regulations.

When a property is sold, the transaction must be registered at the relevant SRO, and the guideline value will influence the costs involved. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venugopal Nagar Ist Street?

The current guideline value of Venugopal Nagar Ist 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, marking an overall increase of 450% over the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office should I visit for transactions in Venugopal Nagar Ist Street?

The Chennai South Joint I Sub Registrar Office covers Venugopal Nagar Ist Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Venugopal Nagar Ist Street?

The land classification for Venugopal Nagar Ist Street is Residential Class IV Type - I, indicating its designated use for residential purposes.