Guideline Value for Venkatarathinam Nagar Extension 1st Street

Venkatarathinam Nagar Extension 1st Street guideline value

The current guideline value of Venkatarathinam Nagar Extension 1st 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 Nagar Extension 1st Street has changed

The guideline value for Venkatarathinam Nagar Extension 1st Street has seen significant changes over the years. In 2002, the guideline value was Rs 919 per sq.ft. This increased to Rs 1,005 per sq.ft in 2003, marking a rise of 9%. The value continued to climb, reaching Rs 4,000 per sq.ft in 2007, which was a substantial increase of 298%. By 2012, the value had risen to Rs 8,500 per sq.ft, reflecting a growth of 113% from the previous revision. However, there was a decrease to Rs 5,695 per sq.ft in 2017, a drop of 33% from 2012.

In 2023, the guideline value returned to Rs 8,500 per sq.ft, and then increased by 11% to reach the current value of Rs 9,400 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 923%.

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 value for these streets is Rs 9,400 per sq.ft, which is the same as the guideline value for Venkatarathinam Nagar Extension 1st Street.

• Venkatarathinam Nagar: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar Extension 2nd Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Main Road: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 8th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 6th Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatarathinam Nagar Extension 1st 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. Together, the total cost for stamp duty and registration fees would be 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatarathinam Nagar Extension 1st Street?

The Sub Registrar Office that covers Venkatarathinam Nagar Extension 1st Street is 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 plays a crucial role when buying or selling property in Pallipattu. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This helps in accurately assessing the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Venkatarathinam Nagar Extension 1st Street?

The current guideline value of Venkatarathinam Nagar Extension 1st 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 significantly, increasing from Rs 919 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, which is an overall increase of 923% over the years.

What is the land classification for Venkatarathinam Nagar Extension 1st Street?

The land classification for Venkatarathinam Nagar Extension 1st Street is 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.

Where is the Adayar Sub Registrar Office located?

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