Guideline Value for Veenus Colony 3rd Street

Veenus Colony 3rd Street guideline value

The current guideline value of Veenus Colony 3rd Street is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO, and is classified as Commercial Special Type - V.

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

In the 2023 revision, the guideline value was Rs 16,000 per sq.ft. The 2024 revision shows an increase of 10%, bringing the current value to Rs 17,600 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for Veenus Colony 3rd Street.

Thus, the only revisions available for this street are from 2023 and 2024, with the significant change being the increase from Rs 16,000 to Rs 17,600.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, positioning Veenus Colony 3rd Street's 2024 figure 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 2

The guideline value is an essential factor during the registration of property transactions in Mylapore Part 2. It helps determine the stamp duty and registration fees payable, ensuring that these costs are based on an official valuation of the property.

When buying or selling property, the guideline value serves as a benchmark for both parties to agree upon a fair price. It is crucial for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed recently?

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

What is the land classification of Veenus Colony 3rd Street?

Veenus Colony 3rd Street is classified as Commercial Special Type - V.

Where can I find the Sub Registrar Office for Veenus Colony 3rd Street?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that these fees are based on an official valuation, providing a fair basis for both buyers and sellers.