Guideline Value for VENUS COLONY

Venus Colony guideline value

The current guideline value of Venus Colony, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Venus Colony has changed

The guideline value for Venus Colony has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,010 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Venus Colony is above this median.

• Vetri Kargil Nagar: Rs 3,300 per sq.ft (2024)
• Vetri Nagar: Rs 2,700 per sq.ft (2024)
• Vetrivel Nagar: Rs 3,300 per sq.ft (2024)
• Venba Nagar: Rs 2,900 per sq.ft (2024)
• Venba Avenue: Rs 2,900 per sq.ft (2024)
• Victorya Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venus Colony?

The Sub Registrar Office that covers Venus Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitthalapakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a minimum price for the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the sale process.

Frequently asked questions

What is the current guideline value of Venus Colony?

The current guideline value of Venus Colony 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Venus Colony?

Venus Colony is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Venus Colony?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Venus Colony?

The Selaiyur Sub Registrar Office covers Venus Colony, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.