Guideline Value for Venkatasubramaniya Nagar Annexe 3rd Street

Venkatasubramaniya Nagar Annexe 3rd Street guideline value

The current guideline value of Venkatasubramaniya Nagar Annexe 3rd 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 is classified as Residential Class II Type - I.

How the guideline value of Venkatasubramaniya Nagar Annexe 3rd Street has changed

The guideline value for Venkatasubramaniya Nagar Annexe 3rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 600% increase. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the value rise to Rs 3,850 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 670%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value 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 equal to the 2024 figure for Venkatasubramaniya Nagar Annexe 3rd Street.

• Venkatasubramaniya Nagar Annexe 2nd Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 4th Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 1st Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 5th Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 9th Street & Cross Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar 8th Street & Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar Annexe 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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 to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Venkatasubramaniya Nagar Annexe 3rd Street?

The Venkatasubramaniya Nagar Annexe 3rd Street falls under the jurisdiction of 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 when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. This value helps in establishing a fair transaction price and aids in the smooth processing of registration at the relevant SRO.

Frequently asked questions

What is the current guideline value of Venkatasubramaniya Nagar Annexe 3rd Street?

The current guideline value of Venkatasubramaniya Nagar Annexe 3rd 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 multiple times, starting from Rs 500 per sq.ft in 2007, increasing to Rs 3,500 per sq.ft in 2012, dropping to Rs 2,345 per sq.ft in 2017, and finally rising to Rs 3,850 per sq.ft in 2024.

What is the land classification for Venkatasubramaniya Nagar Annexe 3rd Street?

Venkatasubramaniya Nagar Annexe 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500 and the registration fee is Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles the registration for Venkatasubramaniya Nagar Annexe 3rd Street?

The registration for Venkatasubramaniya Nagar Annexe 3rd Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.