Guideline Value for Venkat Avenue 2nd Street

Venkat Avenue 2nd Street guideline value

The current guideline value of Venkat Avenue 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkat Avenue 2nd Street has changed

Over the years, the guideline value for Venkat Avenue 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the value dropped by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, indicating that the guideline value of Venkat Avenue 2nd Street is below this median.

• Venkat Avenue 1st Street: Rs 1,300 per sq.ft (2024)
• Venkataraman Street: Rs 1,900 per sq.ft (2024)
• Venkatarama Iyer Street: Rs 1,900 per sq.ft (2024)
• Venkatachalapathy Street: Rs 1,300 per sq.ft (2024)
• Venugopal Street: Rs 880 per sq.ft (2024)
• Velacherry Main Road: Rs 4,250 per sq.ft (2024)

Stamp duty and registration fee for property in Venkat Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that 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 further details.

Which Sub Registrar Office covers Venkat Avenue 2nd Street?

The Sub Registrar Office that covers Venkat Avenue 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office will use the guideline value or the sale price, whichever is higher, to determine the stamp duty and registration fees owed at the time of registration.

Frequently asked questions

What is the current guideline value of Venkat Avenue 2nd Street?

The current guideline value of Venkat Avenue 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Venkat Avenue 2nd Street?

Venkat Avenue 2nd Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Rajakilpakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.