Guideline Value for Venkatachalam Street

Venkatachalam Street guideline value

The current guideline value of Venkatachalam Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Venkatachalam Street has changed

The guideline value for Venkatachalam Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 138 per sq.ft. This figure increased to Rs 160 per sq.ft in 2003, marking a 16% rise. In 2007, the value saw a significant jump to Rs 200 per sq.ft, representing a 25% increase. The 2012 revision set the value at Rs 2,200 per sq.ft, a remarkable increase of 1,000% from 2007. However, this was followed by a decrease to Rs 1,474 per sq.ft in 2017, reflecting a 33% decline. The value then rose again to Rs 2,200 per sq.ft in 2023, before reaching the current figure of Rs 2,400 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,639%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current figure for Venkatachalam Street.

• Venkatachalam nagar Extn: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 9th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 8th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 7th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 6rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 5nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatachalam Street?

The Sub Registrar Office that covers Venkatachalam 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 Thirumullaivoyal

The guideline value plays a crucial role when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction reflects a fair value in accordance with the prevailing rates in the area.

When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the registration process adheres to the regulations set by the state.

Frequently asked questions

What is the current guideline value of Venkatachalam Street?

The current guideline value of Venkatachalam Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 138 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1,639% over the years.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as the current guideline value for Venkatachalam Street.

What are the stamp duty rates for property in Venkatachalam Street?

The stamp duty rate for property in Venkatachalam Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venkatachalam Street located?

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