Guideline Value for Venkatachalam nagar 4nd Street

Venkatachalam nagar 4nd Street guideline value

The current guideline value of Venkatachalam nagar 4nd 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 4nd Street has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following revisions, rising to Rs 2,200 per sq.ft in 2023, and then to Rs 2,400 per sq.ft in the 2024 revision, which represents a 9% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 9%.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. The 2023 revision saw a 49% increase from the 2017 revision, highlighting the fluctuations in the guideline value over the years.

Guideline values in Thirumullaivoyal

Thirumullaivoyal has 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, which is equal to the current guideline value of Venkatachalam nagar 4nd Street.

• Venkatachalam nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 5nd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 3rd Main Road: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 6rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 7th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam nagar 4nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venkatachalam nagar 4nd Street?

The Sub Registrar Office that covers Venkatachalam nagar 4nd 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 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 transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Venkatachalam nagar 4nd Street?

The current guideline value of Venkatachalam nagar 4nd 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 from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, reflecting a 9% increase. It was Rs 1,474 per sq.ft in 2017, which was a 49% increase from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023.

What is the land classification of Venkatachalam nagar 4nd Street?

Venkatachalam nagar 4nd Street is classified as Residential Class I Type - I. This classification is important for determining the usage and regulations applicable to the property.

Where can I find the Sub Registrar Office for Venkatachalam nagar 4nd Street?

The Sub Registrar Office covering Venkatachalam nagar 4nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For example, for a property valued at Rs 24,00,000, the total stamp duty and registration fee would amount to Rs 2,16,000.