Guideline Value for Venkatasamy Street

Venkatasamy Street guideline value

The current guideline value of Venkatasamy Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venkatasamy Street has changed

The guideline value for Venkatasamy Street has seen significant changes over the years. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 341 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, then jumped to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,900 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw an increase of 11%. The most significant change occurred from 2007 to 2012, with a rise of 250%. Overall, from 2002 to 2024, the guideline value has increased by 2167%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, placing Venkatasamy Street's 2024 figure above that median.

• Venkatesa Nagar: Rs 3,900 per sq.ft (2024)
• Vempuli Amman Koil Street: Rs 2,800 per sq.ft (2024)
• Vembuli Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vellala Street Samy Nagar Extension: Rs 2,800 per sq.ft (2024)
• Venkat Narayana Street: Rs 3,900 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatasamy Street?

The Sub Registrar Office that covers Venkatasamy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It determines the minimum value at which property can be registered, ensuring that the transaction is recorded at a fair rate.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due 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 3,900 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 172 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 2167% over the years.

What are the stamp duty and registration fees for properties in Venkatasamy Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Venkatasamy Street?

The Alandur Sub Registrar Office handles property registrations for Venkatasamy Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Ullagaram?

The guideline value is determined by the Registration Department and is based on various factors, including the location and land classification of the property, ensuring a standardized rate for property transactions.