Guideline Value for Venkata swami 5th cross Street"

Venkata swami 5th cross Street" guideline value

The current guideline value of Venkata swami 5th cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Venkata swami 5th cross Street" has changed

The guideline value for Venkata swami 5th cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, and from 2023 to 2024, the increase was 10%. Overall, comparing the figures from 2012 to 2024, the guideline value has risen by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which aligns with the current guideline value of Venkata swami 5th cross Street.

• Venkata swami 4th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami Street: Rs 1,320 per sq.ft (2024)
• Venkata swami 3rd cross Street: Rs 1,650 per sq.ft (2024)
• Venkataswami 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Venkataswami 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Venkatesan Cross St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkata swami 5th cross Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkata swami 5th cross Street"?

The Venkata swami 5th cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Venkata swami 5th cross Street?

The current guideline value of Venkata swami 5th cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Venkata swami 5th cross Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Venkata swami 5th cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for ensuring that the correct amount is paid based on the property's value at the time of registration.