Guideline Value for Venkatasubramaniya Nagar Annexe 4th Street

Venkatasubramaniya Nagar Annexe 4th Street guideline value

The current guideline value for Venkatasubramaniya Nagar Annexe 4th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Venkatasubramaniya Nagar Annexe 4th Street has changed

The guideline value for Venkatasubramaniya Nagar Annexe 4th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 600% increase. However, the value dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revision in 2024 has brought the value to Rs 3,850 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 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 value is Rs 3,850 per sq.ft, which aligns with the current guideline value for Venkatasubramaniya Nagar Annexe 4th Street.

• Venkatasubramaniya Nagar Annexe 3rd Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 5th Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 2nd Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 1st 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 4th 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 charges to Rs 3,46,500. Please 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 detailed calculations.

Which Sub Registrar Office covers Venkatasubramaniya Nagar Annexe 4th Street?

The Venkatasubramaniya Nagar Annexe 4th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit 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 of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the total cost involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Venkatasubramaniya Nagar Annexe 4th Street?

The current guideline value for Venkatasubramaniya Nagar Annexe 4th 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 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 670% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at 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.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Venkatasubramaniya Nagar Annexe 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Venkatasubramaniya Nagar Annexe 4th Street?

The land classification for Venkatasubramaniya Nagar Annexe 4th Street is Residential Class II Type - I.