Guideline Value for Venkatarathinam 5th Cross Street

Venkatarathinam 5th Cross Street guideline value

The current guideline value of Venkatarathinam 5th 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, classified as Residential Special Type - I.

How the guideline value of Venkatarathinam 5th Cross Street has changed

In the 2012 revision, the guideline value was Rs 8,500 per sq.ft. This figure remained the same in the subsequent 2017 revision, where it decreased to Rs 5,695 per sq.ft. The 2023 revision saw a significant increase to Rs 8,500 per sq.ft, followed by the latest 2024 revision, which raised the value to Rs 9,400 per sq.ft, marking an 11% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallipattu

Pallipattu village has 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 is Rs 9,400 per sq.ft, which is the same as the 2024 figure for Venkatarathinam 5th Cross Street.

• Venkatarathinam 4th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 6th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 3rd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 2nd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 8th Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam 5th 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 would be Rs 94,00,000. The stamp duty at 7% would amount to Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total cost 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatarathinam 5th Cross Street?

The Venkatarathinam 5th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which a property can be sold, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that must be paid. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Venkatarathinam 5th Cross Street?

The current guideline value of Venkatarathinam 5th 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 several changes: it was Rs 8,500 per sq.ft in 2012, decreased to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally reached Rs 9,400 per sq.ft in 2024.

What is the land classification of Venkatarathinam 5th Cross Street?

Venkatarathinam 5th Cross Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000, and the registration fee would be Rs 1,88,000, totaling Rs 8,46,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Venkatarathinam 5th Cross Street?

The Adayar Sub Registrar Office handles property registrations for Venkatarathinam 5th Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.