Guideline Value for Venkatachalam nagar 5nd Street

Venkatachalam nagar 5nd Street guideline value

The current guideline value of Venkatachalam nagar 5nd 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 5nd Street has changed

The guideline value for Venkatachalam nagar 5nd Street has experienced several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,200 per sq.ft. In 2017, it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,400 per sq.ft in the 2024 revision, which is a rise of 9% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumullaivoyal

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

• Venkatachalam nagar 4nd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 6rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 7th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 3rd Main Road: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 8th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam nagar 5nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total 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, resulting in a total of Rs 2,16,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Venkatachalam nagar 5nd Street?

The Sub Registrar Office that covers Venkatachalam nagar 5nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

At the time of registration, the higher value between the guideline value and the sale price is considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue based on the property’s valuation.

Frequently asked questions

What is the current guideline value of Venkatachalam nagar 5nd Street?

The current guideline value of Venkatachalam nagar 5nd 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 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Venkatachalam nagar 5nd Street?

Venkatachalam nagar 5nd Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Venkatachalam nagar 5nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 24,00,000, leading to a stamp duty of Rs 1,68,000.