Guideline Value for Venkatarathinam 2nd Cross Street

Venkatarathinam 2nd Cross Street guideline value

The current guideline value of Venkatarathinam 2nd 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 the land classification is Residential Special Type - I.

How the guideline value of Venkatarathinam 2nd Cross Street has changed

The guideline value for Venkatarathinam 2nd Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 8,500 per sq.ft. This was followed by a decrease to Rs 5,695 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 8,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 9,400 per sq.ft, reflecting an increase of 11% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 9,400 per sq.ft, which is equal to the current value of Venkatarathinam 2nd Cross Street.

• Venkatarathinam 1st 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 2nd 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, bringing the total to 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.

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

Which Sub Registrar Office covers Venkatarathinam 2nd Cross Street?

The Venkatarathinam 2nd Cross Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Venkatarathinam 2nd Cross Street?

The current guideline value of Venkatarathinam 2nd 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 seen various changes, with the most recent revision in 2024 being Rs 9,400 per sq.ft, an increase from Rs 8,500 per sq.ft in 2023. The value was Rs 5,695 per sq.ft in 2017 and Rs 8,500 per sq.ft in 2012.

What is the land classification for Venkatarathinam 2nd Cross Street?

The land classification for Venkatarathinam 2nd Cross Street is Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles the registration for properties in the area.

How is stamp duty calculated for properties in Pallipattu?

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