Guideline Value for Venkatesan Salai (Periyar Nagar)

Venkatesan Salai (Periyar Nagar) guideline value

The current guideline value of Venkatesan Salai (Periyar Nagar) is Rs 3,301 per sq.ft. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Venkatesan Salai (Periyar Nagar) has changed

The guideline value for Venkatesan Salai (Periyar Nagar) has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 3,000 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 2,010 per sq.ft. Following this, the guideline value increased significantly to Rs 3,000 per sq.ft in 2023 and further rose to Rs 3,301 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, which is the same as the current value for Venkatesan Salai (Periyar Nagar).

• Venkatesan Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Vengal Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Salai (Periyar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesan Salai (Periyar Nagar)?

The Sub Registrar Office that covers Venkatesan Salai (Periyar Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will use the guideline value to assess the applicable fees, ensuring that all transactions are compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkatesan Salai (Periyar Nagar)?

The current guideline value of Venkatesan Salai (Periyar Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 in 2012 to Rs 2,010 in 2017, then increased to Rs 3,000 in 2023, and finally to Rs 3,301 in 2024. This reflects various fluctuations in the property market over the years.

What is the land classification for Venkatesan Salai (Periyar Nagar)?

The land classification for Venkatesan Salai (Periyar Nagar) is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Venkatesan Salai (Periyar Nagar)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty at 7% would be Rs 2,31,070.