Guideline Value for Venkatasa Nagar 2nd Cross Street

Venkatasa Nagar 2nd Cross Street guideline value

The current guideline value of Venkatasa Nagar 2nd Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkatasa Nagar 2nd Cross Street has changed

The guideline value of Venkatasa Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 762 per sq.ft. This increased to Rs 1,100 per sq.ft in 2007, marking a 44% rise. In 2012, the value rose significantly to Rs 4,500 per sq.ft, a jump of 309%. However, it then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value was Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,950 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

There is no guideline value recorded for Venkatasa Nagar 2nd Cross Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 550%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Venkatasa Nagar 2nd Cross Street above this median.

• Venkatasa Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatasa Nagar Extension: Rs 4,950 per sq.ft (2024)
• Venkatesa Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Venkatesa Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. 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 Venkatasa Nagar 2nd Cross Street?

The Venkatasa Nagar 2nd Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. This value is used to calculate the taxes and fees associated with the registration, which are mandatory for completing the sale legally.

Frequently asked questions

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

The current guideline value of Venkatasa Nagar 2nd Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 762 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, which is an overall increase of 550%.

What is the stamp duty for property in Venkatasa Nagar 2nd Cross Street?

The stamp duty for property in Venkatasa Nagar 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venkatasa Nagar 2nd Cross Street?

The Sub Registrar Office covering Venkatasa Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined in Saligramam?

The guideline value in Saligramam is determined based on various factors, including land classification and recent revisions by the Registration Department. It serves as a standard for property transactions and taxation.