Guideline Value for Venkatesan Cross St

Venkatesan Cross St guideline value

The current guideline value for Venkatesan Cross St in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Venkatesan Cross St has changed

Over the years, the guideline value for Venkatesan Cross St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The guideline value remained at Rs 1,500 per sq.ft until the 2023 revision, which increased it to Rs 1,650 per sq.ft, marking a 10% increase. The latest revision in 2024 maintains this value at Rs 1,650 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Venkatesan Cross St.

• Venkata swami Street: Rs 1,320 per sq.ft (2024)
• Venkatesan Street: Rs 1,980 per sq.ft (2024)
• Venkata swami 5th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 4th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 3rd cross Street: Rs 1,650 per sq.ft (2024)
• Venkataswami 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Cross St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges together Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatesan Cross St?

The Venkatesan Cross St falls under 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 Peerklankaranai

When buying or selling property in Peerklankaranai, the guideline value is a critical factor in determining the registration charges. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

During the registration process, the guideline value is checked against the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Venkatesan Cross St?

The current guideline value for Venkatesan Cross St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, which is a 10% increase. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Venkatesan Cross St?

Venkatesan Cross St is classified as Residential Class I Type - II under the local land classification system.

Where can I find the Sub Registrar Office for Venkatesan Cross St?

The Sub Registrar Office covering Venkatesan Cross St is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Peerklankaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.