Guideline Value for Veenus Colony 3rd Street

Veenus Colony 3rd Street guideline value

The current guideline value for Veenus Colony 3rd Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - V.

How the guideline value of Veenus Colony 3rd Street has changed

The guideline value for Veenus Colony 3rd Street has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 16,000 per sq.ft, which increased to Rs 17,600 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no available figures for the street. The current value of Rs 17,600 per sq.ft is above the median guideline value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. Veenus Colony 3rd Street's 2024 guideline value is notably above this median.

• Veenus Colony 2nd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, totaling Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Veenus Colony 3rd Street?

The Sub Registrar Office that covers Veenus Colony 3rd 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 factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the financial obligations associated with the registration process. This ensures transparency and compliance with legal requirements in property dealings.

Frequently asked questions

What is the current guideline value for Veenus Colony 3rd Street?

The current guideline value for Veenus Colony 3rd Street is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Veenus Colony 3rd Street has increased from Rs 16,000 per sq.ft in 2023 to Rs 17,600 per sq.ft in 2024, marking a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

For a property valued at Rs 1,76,00,000, the stamp duty would be Rs 12,32,000, and the registration fee would be Rs 3,52,000, totaling Rs 15,84,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Veenus Colony 3rd Street?

The Chennai Central Joint I Sub Registrar Office covers Veenus Colony 3rd Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

Where can I find more information about the guideline values in Mylapore Part 1?

More information about the guideline values in Mylapore Part 1 can be found in the registration department's guideline value register (TNReginet), which provides detailed figures for various streets in the area.