Guideline Value for Vengateshwaran Street

Vengateshwaran Street guideline value

The current guideline value of Vengateshwaran Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Vengateshwaran Street has changed

In the 2017 revision, the guideline value for Vengateshwaran Street was Rs 1,005 per sq.ft. It then increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49% over the six-year period. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu village, there are 119 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Vengateshwaran Street's 2024 figure is below this median.

• Vengada Subba Reddy Street: Rs 1,600 per sq.ft (2024)
• Vanagaram Road (Prince Green Wood Apts): Rs 3,600 per sq.ft (2024)
• Vanagaram Road: Rs 3,601 per sq.ft (2024)
• Vaigai Street(ICF): Rs 2,400 per sq.ft (2024)
• Ulaippalar Kalyanasundaram Street: Rs 2,200 per sq.ft (2024)
• Udaiyarpalaiam: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vengateshwaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, these fees total Rs 1,44,000. It is important to note that 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 Vengateshwaran Street?

The Sub Registrar Office that covers Vengateshwaran Street is the Konnur Sub Registrar Office, located at 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 5. Athipattu

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the actual sale price, whichever is higher.

When purchasing property in 5. Athipattu, understanding the guideline value helps ensure compliance with legal requirements and provides clarity on the financial obligations involved in the transaction. It is advisable to consult the guideline value register to stay informed about any changes that may affect property transactions.

Frequently asked questions

What is the current guideline value of Vengateshwaran Street?

The current guideline value of Vengateshwaran Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59%.

What is the land classification for Vengateshwaran Street?

Vengateshwaran Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vengateshwaran Street?

The Sub Registrar Office for Vengateshwaran Street is the Konnur Sub Registrar Office, located at 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 guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,00,000, the total fees would amount to Rs 1,44,000.