Guideline Value for Venkatesan Street

Venkatesan Street guideline value

The current guideline value of Venkatesan Street is Rs 860 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Venkatesan Street has changed

The guideline value for Venkatesan Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. Following that, the guideline value increased significantly to Rs 600 per sq.ft in 2023, and then rose again to Rs 860 per sq.ft in the 2024 revision, marking a 43% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 43%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Venkatesan Street's current value below this median.

• Vembuliamman Koil 7th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 6th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 5th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 4th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 860 per sq.ft, the total guideline value amounts to Rs 8,60,000. The stamp duty at 7% would be Rs 60,200, and the registration fee at 2% would be Rs 17,200, bringing the total fees to Rs 77,400. 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 Venkatesan Street?

The Sub Registrar Office that covers Venkatesan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO using this link.

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

The guideline value plays a crucial role during the registration of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan Street is Rs 860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 860 per sq.ft in 2024.

What is the median guideline value in Gowrivakkam?

The median guideline value for the 130 streets in Gowrivakkam is Rs 2,200 per sq.ft, which is higher than the current value of Venkatesan Street.

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

For a property valued at Rs 8,60,000, the stamp duty is Rs 60,200, and the registration fee is Rs 17,200, totaling Rs 77,400.

Where is the Sub Registrar Office for Venkatesan Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.