Guideline Value for Venkatapuram Slum Residents

Venkatapuram Slum Residents guideline value

The current guideline value for Venkatapuram Slum Residents is Rs 2,800 per sq.ft, effective from 1 July 2024. This village falls under the Adayar Sub Registrar Office (SRO) and is classified as Residential Class V Type - III.

How the guideline value of Venkatapuram Slum Residents has changed

Over the years, the guideline value for Venkatapuram Slum Residents has seen several revisions. The 2007 revision set the value at Rs 1,500 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. In 2023, the value rose significantly to Rs 2,500 per sq.ft, and the most recent revision in 2024 has established it at Rs 2,800 per sq.ft. The register does not have figures for the years 2002 and 2003 for this street.

From the 2017 revision to 2023, there was a notable increase of 49%. The 2023 to 2024 change reflects a 12% increase. The overall change from 2007 to 2024 shows an increase of 87%, indicating a substantial rise in the guideline value over this period.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Venkatapuram Slum Residents is below this median.

• Velacheri Road (Between Sardar Patel Road & Anna Salai): Rs 10,500 per sq.ft (2024)
• Velacheri Road (Between Acquatic Complex & Sardarpatel Road): Rs 10,500 per sq.ft (2024)
• Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• West Avenue Road: Rs 4,400 per sq.ft (2024)
• Thulasinga Chetty Street: Rs 2,800 per sq.ft (2024)
• Thamas Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatapuram Slum Residents

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. 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 details.

Which Sub Registrar Office covers Venkatapuram Slum Residents?

The Venkatapuram Slum Residents fall under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

When buying or selling property in Venkatapuram, the guideline value plays a crucial role during the registration process. It serves as a reference point to determine the applicable stamp duty and registration fees based on the property’s value.

In the registration process, the guideline value is used to ensure that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the current guideline value for their property to avoid any discrepancies during the registration.

Frequently asked questions

What is the current guideline value for Venkatapuram Slum Residents?

The current guideline value for Venkatapuram Slum Residents is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 87% over this period.

What are the other streets in Venkatapuram and their guideline values?

Other streets in Venkatapuram include Velacheri Road, Vinayagar Koil Street, West Avenue Road, Thulasinga Chetty Street, and Thamas Nagar, with values ranging from Rs 2,800 to Rs 10,500 per sq.ft as of 2024.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Venkatapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the total stamp duty would be Rs 1,96,000.