Guideline Value for Venkataswami 2nd Cross Street

Venkataswami 2nd Cross Street guideline value

The current guideline value of Venkataswami 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Venkataswami 2nd Cross Street has changed

The guideline value for Venkataswami 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,650 per sq.ft.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 represents a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Venkataswami 2nd Cross Street.

• Venkataswami 1st 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 2nd 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. Together, these fees total Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkataswami 2nd Cross Street?

The Sub Registrar Office that covers Venkataswami 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within 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 in property transactions in Peerklankaranai. It serves as a reference point for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions.

When buying or selling property, the guideline value ensures that both parties have a fair understanding of the property's worth according to the government standards. It helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Venkataswami 2nd Cross Street?

The current guideline value of Venkataswami 2nd 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the registration office for Venkataswami 2nd Cross Street?

The registration office for Venkataswami 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating the stamp duty and registration fees. It ensures transparency and consistency in property transactions.