Guideline Value for Vengateshwara Industrial Estate

Vengateshwara Industrial Estate guideline value

The current guideline value of Vengateshwara Industrial Estate is Rs 2,750 per sq.ft, effective from 1 July 2024. This estate is located in 44.Ayanambakkam village, under the Konnur SRO, and is classified as Industries Type - I.

How the guideline value of Vengateshwara Industrial Estate has changed

The guideline value for Vengateshwara Industrial Estate has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures recorded for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, making Vengateshwara Industrial Estate's 2024 figure above that median.

• Vellalar Street: Rs 1,700 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extension-X: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vengateshwara Industrial Estate

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, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vengateshwara Industrial Estate?

The Vengateshwara Industrial Estate falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is an essential factor in the registration process when buying or selling property in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the current market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Vengateshwara Industrial Estate?

The current guideline value of Vengateshwara Industrial Estate 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over the seven-year period.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value in 44.Ayanambakkam is Rs 1,300 per sq.ft, which is below the current value of Vengateshwara Industrial Estate.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000.