Guideline Value for Venkatesa Perumal Nagar

Venkatesa Perumal Nagar guideline value

The current guideline value of Venkatesa Perumal Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Venkatesa Perumal Nagar has changed

The guideline value for Venkatesa Perumal Nagar has seen several revisions over the years. Starting from Rs 429 per sq.ft in 2002, it increased to Rs 467 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 500 per sq.ft in 2007, a 7% increase. A significant jump occurred in 2012 when the value reached Rs 3,500 per sq.ft, reflecting a 600% increase from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%.

As of the 2024 revision, the guideline value stands at Rs 3,850 per sq.ft, representing a 64% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 797%. Notably, the register has no figure for this street for the year 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the guideline value of Venkatesa Perumal Nagar.

• Venkatasubramaniya Nagar Annexe 5th Street: Rs 3,850 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Venkatesa Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesa Perumal Nagar?

The Sub Registrar Office that covers Venkatesa Perumal Nagar is 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 in the registration process of property transactions in Valasaravakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It is essential to consider this value to avoid discrepancies during the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkatesa Perumal Nagar?

The current guideline value of Venkatesa Perumal Nagar 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 429 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 797% over this period.

What is the land classification for Venkatesa Perumal Nagar?

The land classification for Venkatesa Perumal Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Venkatesa Perumal Nagar?

The Sub Registrar Office for Venkatesa Perumal Nagar is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property in Venkatesa Perumal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 3,850 per sq.ft, the stamp duty would be Rs 2,69,500.