Guideline Value for Venkatachalam nagar 16th Street

Venkatachalam nagar 16th Street guideline value

The current guideline value of Venkatachalam nagar 16th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatachalam nagar 16th Street has changed

The guideline value for Venkatachalam nagar 16th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2023 revision, where it remained at Rs 2,200 per sq.ft. The 2024 revision increased the guideline value to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change in guideline value is also +9%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Venkatachalam nagar 16th Street.

• Venkatachalam nagar 15th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 17th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 14th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 13th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 1 st Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam nagar 16th 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 to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkatachalam nagar 16th Street?

The Venkatachalam nagar 16th Street falls under 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 is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value influences the overall transaction costs, including stamp duty and registration fees. Buyers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Venkatachalam nagar 16th Street?

The current guideline value of Venkatachalam nagar 16th Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. Previous revisions took place in 2023, 2012, and other years without figures for this street.

What is the land classification for Venkatachalam nagar 16th Street?

Venkatachalam nagar 16th Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates applicable in Thirumullaivoyal?

The stamp duty rate applicable in Thirumullaivoyal is 7% of the guideline value or sale price, whichever is higher. This is in addition to a registration fee of 2% of the guideline value.

Where can I find more information about the Sub Registrar Office?

Information about the Ambattur Sub Registrar Office, which covers Venkatachalam nagar 16th Street, can be found at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can also find your SRO for more details.