Guideline Value for Venkatachalam nagar 7th Street

Venkatachalam nagar 7th Street guideline value

The current guideline value of Venkatachalam nagar 7th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatachalam nagar 7th Street has changed

The guideline value for Venkatachalam nagar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,400 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the value rose significantly by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 9%.

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 guideline value in this area is Rs 2,400 per sq.ft, which matches the current guideline value of Venkatachalam nagar 7th Street.

• Venkatachalam nagar 6rd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 8th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 5nd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 9th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 4nd Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam nagar 7th 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, bringing the total fees together to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatachalam nagar 7th Street?

The Venkatachalam nagar 7th Street falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor when registering a property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and standardized.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are subject to the same regulatory framework, which helps maintain consistency across the real estate market.

Frequently asked questions

What is the current guideline value of Venkatachalam nagar 7th Street?

The current guideline value of Venkatachalam nagar 7th 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 for Venkatachalam nagar 7th Street?

The land classification for Venkatachalam nagar 7th Street is Residential Class I Type - I.

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

The Sub Registrar Office covering Venkatachalam nagar 7th Street is the Ambattur Sub Registrar Office, 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 guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000.