Guideline Value for Venkataswamy Street

Venkataswamy Street guideline value

The current guideline value of Venkataswamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Venkataswamy Street has changed

The guideline value for Venkataswamy Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, a significant increase from Rs 1,005 per sq.ft in the 2017 revision, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, the guideline value had not been specified for the aforementioned years. The 2017 figure of Rs 1,005 per sq.ft was the only reference before the substantial increase in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, positioning Venkataswamy Street's 2024 figure below that median.

• Venkatesan Nagar: Rs 1,650 per sq.ft (2024)
• VenkatesaPerumal Street: Rs 1,650 per sq.ft (2024)
• Venkata Ramanuja Iyer compound: Rs 1,650 per sq.ft (2024)
• Venkataraman Street: Rs 2,200 per sq.ft (2024)
• Venkataraman Cross Street: Rs 1,650 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataswamy 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, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkataswamy Street?

The Sub Registrar Office that covers Venkataswamy Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Venkataswamy Street?

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

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft, reflecting a change of +64%.

Are there any years without a guideline value for Venkataswamy Street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Venkataswamy Street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of Venkataswamy Street.

Where is the Sub Registrar Office for Venkataswamy Street located?

The Sub Registrar Office for Venkataswamy Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.