Guideline Value for Venkata Cross Street

Venkata Cross Street guideline value

The current guideline value of Venkata Cross Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Venkata Cross Street has changed

Over the years, the guideline value for Venkata Cross Street has seen several revisions. In 2012, the guideline value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and it has now reached Rs 1,001 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 87%. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Venkata Cross Street's 2024 figure below that median.

• Vengatachalapathi Street: Rs 1,001 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,002 per sq.ft (2024)
• Venkatraman Street: Rs 1,700 per sq.ft (2024)
• Varadhan Street: Rs 1,700 per sq.ft (2024)
• Vannar Street: Rs 1,000 per sq.ft (2024)
• Uthra Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Venkata Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, while the registration fee at 2% would amount to Rs 20,020. Therefore, the total cost for stamp duty and registration would be Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkata Cross Street?

The Sub Registrar Office that covers Venkata Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Venkata Cross Street?

The current guideline value of Venkata Cross Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and is now Rs 1,001 per sq.ft in 2024.

What is the land classification for Venkata Cross Street?

Venkata Cross Street is classified as Residential Class IV Type - I.

Which Sub Registrar Office covers Venkata Cross Street?

The Ambattur Sub Registrar Office covers Venkata Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property in Venkata Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fee would be Rs 90,090.