Guideline Value for Venkatasamy Street

Venkatasamy Street guideline value

The current guideline value of Venkatasamy Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Venkatasamy Street has changed

The guideline value for Venkatasamy Street has undergone several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a 389% rise. However, this value dropped by 33% to Rs 1,474 per sq.ft in the 2017 revision. The following revision in 2023 saw a substantial increase to Rs 2,200 per sq.ft, followed by another rise of 9% in 2024, bringing the current guideline value to Rs 2,400 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 433%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making Venkatasamy Street's current value above this median.

• Venkatesan Street: Rs 1,600 per sq.ft (2024)
• Vembuliamman koil Street: Rs 950 per sq.ft (2024)
• Velmurugan street: Rs 950 per sq.ft (2024)
• Velachery Main Road: Rs 6,500 per sq.ft (2024)
• Venu Reddy Street: Rs 1,600 per sq.ft (2024)
• Veerabedran Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. 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 details.

Which Sub Registrar Office covers Venkatasamy Street?

The Sub Registrar Office covering Venkatasamy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatasamy Street?

The current guideline value of Venkatasamy Street is Rs 2,400 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 450 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, with various revisions in between.

What is the land classification for Venkatasamy Street?

Venkatasamy Street is classified as Residential Special Type - II.

What are the stamp duty rates for property in Selaiyur?

The stamp duty rate for property transactions in Selaiyur is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.