Guideline Value for Venkatapuram 2nd Street

Venkatapuram 2nd Street guideline value

The current guideline value of Venkatapuram 2nd Street is Rs 4,400 per sq.ft. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkatapuram 2nd Street has changed

The guideline value register for Venkatapuram 2nd Street does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 4,000 per sq.ft in 2023, which increased by 10% to Rs 4,400 per sq.ft in the 2024 revision, effective from 1 July 2024.

Prior to the 2023 revision, there were no recorded figures for the preceding years. The 2024 figure of Rs 4,400 per sq.ft matches the median guideline value for the 2,691 streets in Velachery under the Velacheri SRO, which ranges from Rs 3,300 to Rs 13,200 per sq.ft.

Guideline values in Velachery

The guideline values in Velachery for 2024 show a range from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Venkatapuram 2nd Street's guideline value is equal to this median. Below are the guideline values for other streets in Velachery:

• Venkatapuram 1st Street: Rs 4,400 per sq.ft (2024)
• Venkatapuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Venkatesan Street: Rs 4,400 per sq.ft (2024)
• Vel Nagar Main Road/E.B.Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Vel Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Vel Nagar 3rd Street/E.B. Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatapuram 2nd Street?

Venkatapuram 2nd Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Velachery. It is used to calculate the stamp duty and registration fees during the property registration process, ensuring that all transactions are fairly assessed based on the established values.

When buying or selling property, the guideline value is critical as it determines the minimum value on which the stamp duty is calculated. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatapuram 2nd Street?

The current guideline value of Venkatapuram 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase.

What is the classification of Venkatapuram 2nd Street?

Venkatapuram 2nd Street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be calculated accordingly during the registration process.