Guideline Value for Venkatarathinam Nagar Extension 2nd Street

Venkatarathinam Nagar Extension 2nd Street guideline value

The current guideline value for Venkatarathinam Nagar Extension 2nd Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village and falls under the Adayar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Venkatarathinam Nagar Extension 2nd Street has changed

The guideline value for Venkatarathinam Nagar Extension 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 919 per sq.ft, which increased to Rs 1,005 per sq.ft in 2003. Following this, the value rose dramatically to Rs 4,000 per sq.ft in 2007, and then to Rs 8,500 per sq.ft in 2012. However, it decreased to Rs 5,695 per sq.ft in 2017 before climbing back to Rs 8,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 9,400 per sq.ft, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 923%. Notably, there are no figures available for the years not mentioned in this timeline for this street.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with the median value being Rs 9,400 per sq.ft. The guideline value for Venkatarathinam Nagar Extension 2nd Street aligns with this median.

• Venkatarathinam Nagar Extension 1st Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar: 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 2nd 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, making the total cost for these fees Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkatarathinam Nagar Extension 2nd Street?

The Sub Registrar Office that covers Venkatarathinam Nagar Extension 2nd 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 is a crucial factor in property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair valuation of the property. It is essential for ensuring transparency and compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for Venkatarathinam Nagar Extension 2nd Street?

The current guideline value for Venkatarathinam Nagar Extension 2nd 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 from Rs 919 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, representing an overall increase of 923% over this period.

What is the land classification for Venkatarathinam Nagar Extension 2nd Street?

The land classification for Venkatarathinam Nagar Extension 2nd Street is Residential Special Type - I.

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.

Where is the Sub Registrar Office for this street located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, and it covers Venkatarathinam Nagar Extension 2nd Street.