Guideline Value for Venkata swami Street

Venkata swami Street guideline value

The current guideline value of Venkata swami Street is Rs 1,320 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 - III.

How the guideline value of Venkata swami Street has changed

The guideline value for Venkata swami Street has undergone several revisions over the years. 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, marking a decrease of 33%. However, the value significantly increased to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Venkata swami Street's 2024 guideline value below the median.

• Venkata swami 5th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 4th cross Street: Rs 1,650 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkata swami Street?

The Sub Registrar Office that covers Venkata swami 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 Peerklankaranai

The guideline value plays a crucial role in property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value ensures that the transaction is registered at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs of the transaction.

Frequently asked questions

What is the current guideline value of Venkata swami Street?

The current guideline value of Venkata swami Street is Rs 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft as of the 2024 revision.

What are the stamp duty and registration fees for property in Venkata swami Street?

For a 1,000 sq.ft plot, the stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800 based on the current guideline value.

Which office handles the registration for Venkata swami Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Venkata swami Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.