Guideline Value for Venkatarathinam 6th Cross Street

Venkatarathinam 6th Cross Street guideline value

The current guideline value of Venkatarathinam 6th 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 is classified as Residential Special Type - I.

How the guideline value of Venkatarathinam 6th Cross Street has changed

The guideline value for Venkatarathinam 6th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 8,500 per sq.ft. This value remained the same until the next revision in 2017, which saw a decrease to Rs 5,695 per sq.ft. Following this, the 2023 revision increased the value significantly to Rs 8,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 9,400 per sq.ft.

In terms of percentage changes, the value increased by 11% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Pallipattu

In Pallipattu, there are 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 value for these streets is Rs 9,400 per sq.ft, which is the same as the guideline value for Venkatarathinam 6th Cross Street.

• Venkatarathinam 5th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 4th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 8th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 3rd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Main Road: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam 6th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 9,400 per sq.ft, the 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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatarathinam 6th Cross Street?

The Sub Registrar Office that covers Venkatarathinam 6th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Pallipattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the registration process involves calculating stamp duty and registration fees based on the guideline value. This ensures that the state collects appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Venkatarathinam 6th Cross Street?

The current guideline value of Venkatarathinam 6th 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 of Venkatarathinam 6th Cross Street?

Venkatarathinam 6th Cross Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties 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.

Which office handles registrations for Venkatarathinam 6th Cross Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Venkatarathinam 6th Cross Street.