Guideline Value for VenkataSubramaniya Nagar 5th Street & Cross street

VenkataSubramaniya Nagar 5th Street & Cross street guideline value

The current guideline value for VenkataSubramaniya Nagar 5th Street & Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of VenkataSubramaniya Nagar 5th Street & Cross street has changed

The guideline value for VenkataSubramaniya Nagar 5th Street & Cross street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was later reduced to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent 2024 revision increased the value to Rs 3,850 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The changes from 2012 to 2017 represented a decline of 33%, showing the fluctuations in the guideline value over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the current guideline value for VenkataSubramaniya Nagar 5th Street & Cross street.

• Venkatasubramaniya Nagar 4th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 6th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 3rd Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 7th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 2nd Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 8th Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in VenkataSubramaniya Nagar 5th Street & Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VenkataSubramaniya Nagar 5th Street & Cross street?

The VenkataSubramaniya Nagar 5th Street & Cross street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as all parties are aware of the costs involved based on the established guideline value.

Frequently asked questions

What is the current guideline value for VenkataSubramaniya Nagar 5th Street & Cross street?

The current guideline value for VenkataSubramaniya Nagar 5th Street & Cross street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the classification of land in VenkataSubramaniya Nagar 5th Street & Cross street?

The land classification for VenkataSubramaniya Nagar 5th Street & Cross street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering VenkataSubramaniya Nagar 5th Street & Cross street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.