Guideline Value for VENUGOPALAPURAM

Venugopalapuram guideline value

The current guideline value of Venugopalapuram is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Venugopalapuram has changed

The guideline value for Venugopalapuram has undergone several revisions over the years. In 2007, the guideline value was Rs 666 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 275% increase. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase from the 2017 figure. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Venugopalapuram above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopalapuram?

Venugopalapuram falls under 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the fees are calculated based on the higher of the guideline value or the sale price. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venugopalapuram?

The current guideline value of Venugopalapuram is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 666 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, which is a total increase of 313% over the years.

What is the land classification of Venugopalapuram?

Venugopalapuram is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Venugopalapuram?

The stamp duty rate for property transactions in Venugopalapuram is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venugopalapuram located?

The Sub Registrar Office covering Venugopalapuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.