Guideline Value for Venkatasubramaniya Nagar Annexe 5th Street

Venkatasubramaniya Nagar Annexe 5th Street guideline value

The current guideline value of Venkatasubramaniya Nagar Annexe 5th 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 5th Street has changed

The guideline value for Venkatasubramaniya Nagar Annexe 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was set at Rs 500 per sq.ft. This value saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a rise of 600%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has brought the guideline value back up to Rs 3,850 per sq.ft, representing a 64% increase from the 2017 figure.

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 among these streets is Rs 3,850 per sq.ft, which aligns with the guideline value of Venkatasubramaniya Nagar Annexe 5th Street.

• Venkatasubramaniya Nagar Annexe 4th Street: Rs 3,850 per sq.ft (2024)
• Venkatasubramaniya Nagar Annexe 3rd 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 5th 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 and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs based on the guideline value.

Which Sub Registrar Office covers Venkatasubramaniya Nagar Annexe 5th Street?

The Venkatasubramaniya Nagar Annexe 5th 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 during property transactions in Valasaravakkam. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must refer to the latest guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value helps determine the minimum value for which the property can be sold. This ensures that all transactions are recorded at a fair and standardized value, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Venkatasubramaniya Nagar Annexe 5th Street?

The current guideline value of Venkatasubramaniya Nagar Annexe 5th 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 significantly from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 670% over the years.

What was the guideline value in 2017?

In 2017, the guideline value for Venkatasubramaniya Nagar Annexe 5th Street was Rs 2,345 per sq.ft.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Venkatasubramaniya Nagar Annexe 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost would be Rs 3,46,500.