Guideline Value for Venkatesachowdry St

Venkatesachowdry St guideline value

The current guideline value of Venkatesachowdry St is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Special Type - I.

How the guideline value of Venkatesachowdry St has changed

The guideline value for Venkatesachowdry St has experienced several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, it then saw a decrease to Rs 3,350 per sq.ft in 2017. From 2017 to 2023, the value rose significantly to Rs 5,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 5,500 per sq.ft.

Overall, from 2007 to 2024, the guideline value has increased by 83%. The changes between the revisions include a 67% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. 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. The median value is Rs 3,300 per sq.ft, placing Venkatesachowdry St above this median.

• Venkatesan Street: Rs 5,500 per sq.ft (2024)
• Venkatesa Street: Rs 2,200 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 Venkatesachowdry St

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesachowdry St?

The Sub Registrar Office that covers Venkatesachowdry St 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 is a crucial factor during property transactions in Tambaram. It serves as a reference point for determining the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the guideline value is used to calculate these fees, ensuring transparency in the transaction process.

When registering a property, the guideline value helps in establishing a fair basis for the valuation of the property. It is essential for both buyers and sellers to understand this value, as it impacts the overall cost of property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatesachowdry St?

The current guideline value of Venkatesachowdry St is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the land classification for Venkatesachowdry St?

Venkatesachowdry St is classified as Residential Special Type - I according to the land classification in the area.

Where can I find the Sub Registrar Office for Venkatesachowdry St?

The Sub Registrar Office for Venkatesachowdry St is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Venkatesachowdry St?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 5,500 per sq.ft incurs a stamp duty of 7% on the guideline value.