Guideline Value for Veenus Colony 1st Street

Veenus Colony 1st Street guideline value

The current guideline value of Veenus Colony 1st Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and is classified as Commercial Special Type - V.

How the guideline value of Veenus Colony 1st Street has changed

In the 2023 revision, the guideline value for Veenus Colony 1st Street was Rs 16,000 per sq.ft. The increase from 2023 to 2024 is 10%, bringing the current value to Rs 17,600 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

The guideline values have seen a consistent upward trend in recent revisions. The 2023 figure was a significant change, and the current value reflects a notable increase in the guideline value per sq.ft.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, and Veenus Colony 1st Street's 2024 figure is above this median.

• Veenus Colony 2nd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 3rd Street: Rs 17,600 per sq.ft (2024)
• Varasidhi Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Varadharajapuram Main Road: Rs 7,700 per sq.ft (2024)
• Vanniya puram Corporation Colony: Rs 6,100 per sq.ft (2024)
• Venkataraman Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Veenus Colony 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would amount to Rs 3,52,000, totaling Rs 15,84,000. 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 Veenus Colony 1st Street?

The Sub Registrar Office that covers Veenus Colony 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial component when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Veenus Colony 1st Street?

The current guideline value of Veenus Colony 1st Street is Rs 17,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased by 10% from Rs 16,000 per sq.ft in 2023 to Rs 17,600 per sq.ft in 2024.

What is the land classification for Veenus Colony 1st Street?

Veenus Colony 1st Street is classified as Commercial Special Type - V.

Where is the Sub Registrar Office for Veenus Colony 1st Street located?

The Sub Registrar Office for Veenus Colony 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Veenus Colony 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 12,32,000 based on the current guideline value.