Guideline Value for Venkadeshwaralu Street

Venkadeshwaralu Street guideline value

The current guideline value of Venkadeshwaralu Street is Rs 1,100 per sq.ft. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkadeshwaralu Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Subsequently, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, and in the latest 2024 revision, it rose again to Rs 1,100 per sq.ft. The register has no figure for Venkadeshwaralu Street for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Venkadeshwaralu Street's 2024 figure below that median.

• Velappan Street: Rs 3,850 per sq.ft (2024)
• Velappan Cross Street: Rs 2,750 per sq.ft (2024)
• Veeravanji Street: Rs 1,650 per sq.ft (2024)
• Veerapandia Kattapomman Street: Rs 2,750 per sq.ft (2024)
• Vethadam colony 2nd street: Rs 2,750 per sq.ft (2024)
• Vethanda Colony Muthal Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Venkadeshwaralu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 Venkadeshwaralu Street?

The Sub Registrar Office that covers Venkadeshwaralu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Venkadeshwaralu Street?

The current guideline value of Venkadeshwaralu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023, finally reaching Rs 1,100 per sq.ft in 2024.

What is the land classification for Venkadeshwaralu Street?

Venkadeshwaralu Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What is the median guideline value for streets in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, with Venkadeshwaralu Street's current value being below this median.

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

The Sub Registrar Office for Venkadeshwaralu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.