Guideline Value for Venkatasubramaniya Nagar 13th Street & Cross Street

Venkatasubramaniya Nagar 13th Street & Cross Street guideline value

The current guideline value of Venkatasubramaniya Nagar 13th 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, classified as Residential Class II Type - I.

How the guideline value of Venkatasubramaniya Nagar 13th Street & Cross Street has changed

The guideline value for Venkatasubramaniya Nagar 13th Street & Cross Street has seen several revisions over the years. The earliest recorded value was Rs 3,500 per sq.ft in 2012, which decreased to Rs 2,345 per sq.ft in 2017. From 2017 to 2024, the value increased significantly by 64% to the current rate of Rs 3,850 per sq.ft. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. The fluctuation between the revisions highlights the changes in the guideline value over time, with the most notable increase occurring in the latest revision.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Venkatasubramaniya Nagar 13th Street & Cross Street.

• Venkatasubramaniya Nagar 12th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 14th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 11th 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 10th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 16th Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar 13th 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, totaling Rs 3,46,500. Please note that the 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 13th Street & Cross Street?

The Venkatasubramaniya Nagar 13th 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 information.

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

When buying or selling property in Valasaravakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. The guideline value is set by the local authorities and serves as a reference point for property transactions, ensuring that the rates are standardized across different areas.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatasubramaniya Nagar 13th Street & Cross Street?

The current guideline value of Venkatasubramaniya Nagar 13th 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 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. There are no recorded figures for the years 2023, 2007, 2003, and 2002 for this street.

What is the land classification of Venkatasubramaniya Nagar 13th Street & Cross Street?

The land classification for Venkatasubramaniya Nagar 13th Street & Cross Street is Residential Class II Type - I.

What are the stamp duty rates for property in this area?

The stamp duty for property in Venkatasubramaniya Nagar 13th Street & Cross Street is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

Which office handles the registration for this street?

The registration for Venkatasubramaniya Nagar 13th Street & Cross Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.