Guideline Value for Venkatarathinam 1st Cross Street

Venkatarathinam 1st Cross Street guideline value

The current guideline value for Venkatarathinam 1st Cross Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, and it is classified as Residential Special Type - I.

How the guideline value of Venkatarathinam 1st Cross Street has changed

The guideline value for Venkatarathinam 1st Cross Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 8,500 per sq.ft, which then decreased to Rs 5,695 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 8,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 9,400 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 9,400 per sq.ft, which is equal to the current guideline value for Venkatarathinam 1st Cross Street.

• Venkatarathinam 2nd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 3rd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 4th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 5th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 6th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, resulting in a total of Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatarathinam 1st Cross Street?

The Sub Registrar Office that covers Venkatarathinam 1st Cross Street is 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 Pallipattu

The guideline value is an important factor when buying or selling property in Pallipattu. It serves as a benchmark for determining the registration fees and stamp duty that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to understand the guideline value to ensure compliance with local regulations and to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value for Venkatarathinam 1st Cross Street?

The current guideline value for Venkatarathinam 1st Cross Street is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification for Venkatarathinam 1st Cross Street?

Venkatarathinam 1st Cross Street is classified as Residential Special Type - I.

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

The Adayar Sub Registrar Office covers Venkatarathinam 1st Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Pallipattu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 at 7%.