Guideline Value for Venkatasubramaniya Nagar 9th Street & Cross Street

Venkatasubramaniya Nagar 9th Street & Cross Street guideline value

The current guideline value for Venkatasubramaniya Nagar 9th Street & Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Venkatasubramaniya Nagar 9th Street & Cross Street has changed

The guideline value for Venkatasubramaniya Nagar 9th Street & Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,500 per sq.ft. The most recent revision, effective from 1 July 2024, shows an increase to Rs 3,850 per sq.ft, marking a 10% rise from the 2012 figure.

There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the only available figures for reference are from the 2012 and 2024 revisions.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the current value for Venkatasubramaniya Nagar 9th Street & Cross Street.

• Venkatasubramaniya Nagar 8th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 1st Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 7th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 2nd Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 6th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar 9th 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 to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatasubramaniya Nagar 9th Street & Cross Street?

The Venkatasubramaniya Nagar 9th Street & 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from transactions.

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 all transactions are recorded accurately and transparently, contributing to the overall integrity of the real estate market.

Frequently asked questions

What is the current guideline value for Venkatasubramaniya Nagar 9th Street & Cross Street?

The current guideline value for Venkatasubramaniya Nagar 9th Street & Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What are the other streets in Valasaravakkam with the same guideline value?

Other streets in Valasaravakkam with the same 2024 guideline value of Rs 3,850 per sq.ft include Venkatasubramaniya Nagar 8th Street & Cross Street, Venkatasubramaniya Nagar Annexe 1st Street, Venkatasubramaniya Nagar 7th Street & Cross Street, Venkatasubramaniya Nagar Annexe 2nd Street, Venkatasubramaniya Nagar 6th Street & Cross Street, and Venkatasubramaniya Nagar Annexe 3rd Street.

What is the stamp duty for properties in this area?

The stamp duty for properties in Venkatasubramaniya Nagar 9th Street & Cross Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Venkatasubramaniya Nagar 9th Street & Cross Street?

The Sub Registrar Office covering Venkatasubramaniya Nagar 9th Street & Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.