Guideline Value for Venkatasubramaniya Nagar 8th Street & Cross Street

Venkatasubramaniya Nagar 8th Street & Cross Street guideline value

The current guideline value for Venkatasubramaniya Nagar 8th Street & Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Venkatasubramaniya Nagar 8th Street & Cross Street has changed

The guideline value for Venkatasubramaniya Nagar 8th Street & Cross Street has seen revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 3,500 per sq.ft. The next revision in 2024 increased this value to Rs 3,850 per sq.ft, marking a change of +10% from the 2012 figure. Notably, the register has no figures for this street for the years 2002, 2003, 2007, 2017, and 2023.

In summary, the only registered figures for this street are from 2012 and 2024, with a significant increase noted in the latest revision. The current guideline value of Rs 3,850 per sq.ft aligns with the median value for the village, indicating its standing among other streets in the area.

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 is Rs 3,850 per sq.ft, which is the same as the 2024 figure for Venkatasubramaniya Nagar 8th Street & Cross Street. Below are other streets in Valasaravakkam with their respective guideline values:

• Venkatasubramaniya Nagar 7th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 9th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 6th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 1st Street: Rs 3,850 per sq.ft (2024)
• VenkataSubramaniya Nagar 5th Street & Cross street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar 8th 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatasubramaniya Nagar 8th Street & Cross Street?

The Venkatasubramaniya Nagar 8th Street & Cross Street falls under 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 Valasaravakkam

The guideline value is a crucial factor in property transactions within Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value ensures that the government receives appropriate revenue from property transactions through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value as it impacts the overall cost of the transaction. It is important to consult the latest figures to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Venkatasubramaniya Nagar 8th Street & Cross Street?

The current guideline value for Venkatasubramaniya Nagar 8th 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 was Rs 3,500 per sq.ft in 2012 and increased to Rs 3,850 per sq.ft in 2024, marking a change of +10%. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for this street?

The land classification for Venkatasubramaniya Nagar 8th Street & Cross Street is Residential Class II Type - I.

Which Sub Registrar Office handles property registrations for this area?

The Virugambakkam Sub Registrar Office handles property registrations for Venkatasubramaniya Nagar 8th Street & Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500.