Guideline Value for Venkatasubramaniya Nagar 1st Street & Cross Street

Venkatasubramaniya Nagar 1st Street & Cross Street guideline value

The current guideline value for Venkatasubramaniya Nagar 1st Street & Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Venkatasubramaniya Nagar 1st Street & Cross Street has changed

The guideline value for Venkatasubramaniya Nagar 1st Street & Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 3,500 per sq.ft. This figure remained until the next revision in 2017, which decreased the guideline value to Rs 2,345 per sq.ft, a change of -33%. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision has set it at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the 2024 figure for Venkatasubramaniya Nagar 1st Street & Cross Street.

• Venkatasubramaniya Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 16th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 2nd Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 15th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 3rd Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar 1st Street & Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Venkatasubramaniya Nagar 1st Street & Cross Street?

The Venkatasubramaniya Nagar 1st Street & Cross Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transfers.

Frequently asked questions

What is the current guideline value for Venkatasubramaniya Nagar 1st Street & Cross Street?

The current guideline value for Venkatasubramaniya Nagar 1st Street & Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. It was Rs 2,345 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012, where it was Rs 3,500 per sq.ft.

What is the land classification for this street?

The land classification for Venkatasubramaniya Nagar 1st Street & Cross Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Venkatasubramaniya Nagar 1st Street & Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.