Guideline Value for Venkatachalam nagar

Venkatachalam nagar guideline value

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

How the guideline value of Venkatachalam nagar has changed

The guideline value for Venkatachalam nagar has seen significant changes over the years. In 2003, the guideline value was Rs 100 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a substantial rise to Rs 2,200 per sq.ft in 2012, but it then decreased to Rs 1,474 per sq.ft in 2017. The value rose again to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it has risen by 9%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Thirumullaivoyal

Thirumullaivoyal village has a total of 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 matches the current value for Venkatachalam nagar.

• Venkatachalam nagar 10th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 11th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 12th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 13th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 14th Street: Rs 2,400 per sq.ft (2024)
• Venkatachalam nagar 15th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam nagar

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, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Venkatachalam nagar?

The Sub Registrar Office that covers Venkatachalam nagar 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 serves as a basis for determining the stamp duty and registration fees when buying or selling property in Thirumullaivoyal. It is essential for both buyers and sellers to be aware of the current guideline value, as it directly affects the overall transaction costs.

During the registration process, the guideline value will be compared to the sale price, and the higher amount will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatachalam nagar?

The current guideline value of Venkatachalam nagar 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 100 per sq.ft in 2003 to Rs 2,400 per sq.ft in 2024, with various increases and a decrease noted in the years between.

What is the registration office for Venkatachalam nagar?

The registration office for Venkatachalam nagar 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 stamp duty calculated in Venkatachalam nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,00,000 would incur a stamp duty of Rs 1,68,000 at 7%.

What are the guideline values for other streets in Thirumullaivoyal?

The guideline values for other streets in Thirumullaivoyal are also Rs 2,400 per sq.ft for several streets, including Venkatachalam nagar 10th, 11th, 12th, 13th, 14th, and 15th Streets.