Guideline Value for Venkataswami 1st Cross Street

Venkataswami 1st Cross Street guideline value

The current guideline value of Venkataswami 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkataswami 1st Cross Street has changed

Looking at the historical revisions, the guideline value for Venkataswami 1st Cross Street has undergone several changes over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, this was followed by a significant increase to Rs 1,500 per sq.ft in 2023 and then to Rs 1,650 per sq.ft in 2024, representing a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The changes between the revisions are noteworthy, with a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Venkataswami 1st Cross Street.

• Venkataswami 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami Street: Rs 1,320 per sq.ft (2024)
• Venkatesan Cross St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataswami 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed estimates.

Which Sub Registrar Office covers Venkataswami 1st Cross Street?

The Sub Registrar Office that covers Venkataswami 1st Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction process. It is important for buyers and sellers to be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkataswami 1st Cross Street?

The current guideline value of Venkataswami 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,650 per sq.ft in 2024, an increase from Rs 1,500 per sq.ft in 2023. Overall, from 2012 to 2024, it has increased by 10%.

What is the stamp duty for property in Venkataswami 1st Cross Street?

The stamp duty for property in Venkataswami 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Which office handles registrations for Venkataswami 1st Cross Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Venkataswami 1st Cross Street. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Venkataswami 1st Cross Street?

The land classification for Venkataswami 1st Cross Street is Residential Class I Type - II, indicating its suitability for residential development.