Guideline Value for Venkatesa Street

Venkatesa Street guideline value

The current guideline value of Venkatesa Street is Rs 2,200 per sq.ft. This street is located in Tambaram 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 Venkatesa Street has changed

The guideline value of Venkatesa Street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 2,000 per sq.ft, and the current 2024 revision has further increased it to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, with an increase of 233%. The overall change from 2007 to 2024 is an increase of 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Venkatesa Street's 2024 guideline value is below this median.

• Venkatesan Street: Rs 5,500 per sq.ft (2024)
• Venkatesachowdry St: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Veluchetty Street: Rs 2,200 per sq.ft (2024)
• Venu Street: Rs 3,300 per sq.ft (2024)
• Vetri Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesa Street?

The Sub Registrar Office that covers Venkatesa 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 Tambaram

The guideline value plays a crucial role during the registration of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Buyers should ensure they are informed about these values to avoid any unexpected charges during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesa Street?

The current guideline value of Venkatesa Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 2,200 per sq.ft in 2024, representing an overall increase of 267%.

What is the stamp duty for property in Venkatesa Street?

The stamp duty for property in Venkatesa Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.

Where is the Sub Registrar Office for Venkatesa Street located?

The Sub Registrar Office for Venkatesa Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What are the guideline values of other streets in Tambaram?

Other streets in Tambaram have varying guideline values. For example, Venkatesan Street and Venkatesachowdry St are valued at Rs 5,500 per sq.ft, while Venkateswara Nagar is at Rs 1,320 per sq.ft.