Guideline Value for VenkatesaPerumal Street

VenkatesaPerumal Street guideline value

The current guideline value of VenkatesaPerumal 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 VenkatesaPerumal Street has changed

The guideline value for VenkatesaPerumal Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, while the most recent revision in 2024 increased it to Rs 1,650 per sq.ft, marking a significant change of +64% between these two revisions. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024. The absence of figures for the other years indicates that the value was not recorded for those periods.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for VenkatesaPerumal Street is below this median.

• Venkatesan Nagar: Rs 1,650 per sq.ft (2024)
• Venkataswamy 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 VenkatesaPerumal Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% amounts to Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500. 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 information.

Which Sub Registrar Office covers VenkatesaPerumal Street?

The Sub Registrar Office that covers VenkatesaPerumal 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 is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges reflect the official value of the property.

When a property is registered, the guideline value helps determine the amount of tax payable. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of VenkatesaPerumal Street?

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

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, which is a change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. VenkatesaPerumal Street's guideline value is below this median.

What are the stamp duty and registration fees for VenkatesaPerumal Street?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for VenkatesaPerumal Street located?

The Velacheri Sub Registrar Office, which covers VenkatesaPerumal Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.