Guideline Value for Venkatesa puram colony North Street

Venkatesa puram colony North Street guideline value

The current guideline value for Venkatesa puram colony North Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO with a land classification of Residential Class I Type - III.

How the guideline value of Venkatesa puram colony North Street has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 2,400 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. The value rose sharply to Rs 4,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,900 per sq.ft. The changes between these revisions are notable, with a 33% decrease from 2012 to 2017 and a substantial 88% increase from 2007 to 2012.

From 2017 to 2023, there was a 49% increase, and the latest revision from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 104%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram village has 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the 2024 figure for Venkatesa puram colony North Street.

• Venkatesapuram colony South Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Extension: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 2nd Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa puram colony North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 puram colony North Street?

The Sub Registrar Office that covers Venkatesa puram colony North Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value is assessed to calculate the fees based on the higher value between the guideline and the sale price. This ensures that all property transactions are conducted transparently and fairly, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Venkatesa puram colony North Street?

The current guideline value for Venkatesa puram colony North Street is Rs 4,900 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 2,400 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 104% since 2007.

What is the land classification for Venkatesa puram colony North Street?

The land classification for Venkatesa puram colony North Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Venkatesa puram colony North Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Venkatesa puram colony North Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.