Guideline Value for VENUGOPAL STREET

Venugopal Street guideline value

The current guideline value of Venugopal Street in Villivakkam village, under the Villivakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Venugopal Street has changed

The guideline value for Venugopal Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 529 per sq.ft. This value increased to Rs 605 per sq.ft in 2003, marking a 14% rise. The subsequent revision in 2007 saw a significant jump to Rs 950 per sq.ft, reflecting a 57% increase. By 2012, the value rose to Rs 3,000 per sq.ft, which was a substantial 216% increase from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, showing a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, indicating a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 524% for Venugopal Street.

Guideline values in Villivakkam

Villivakkam has a total of 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, placing Venugopal Street's 2024 figure below the median.

• VASANTHAM COLONY 5th CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 4th CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 3rd MAIN ROAD: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 3rd CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 2nd MAIN ROAD: Rs 12,100 per sq.ft (2024)
• VASANTHAM COLONY 2nd CROSS STREET: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Street

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, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venugopal Street?

The Villivakkam Sub Registrar Office covers Venugopal Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Villivakkam. It serves as a benchmark for determining the value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is necessary for legal and tax purposes. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Venugopal Street?

The current guideline value of Venugopal Street 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 529 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 524%.

What is the land classification of Venugopal Street?

Venugopal Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for a property in Venugopal Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 2,97,000.

Where is the Sub Registrar Office for Venugopal Street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.