Guideline Value for Venkatesan Street

Venkatesan Street guideline value

The current guideline value of Venkatesan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II 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 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 233%. However, this value decreased by 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision brought the guideline value up to Rs 1,500 per sq.ft, and the latest 2024 revision raised it further to Rs 1,600 per sq.ft, reflecting a 7% increase.

Notably, there are no figures available for the years 2002 and 2003 in the register for Venkatesan Street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 256%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO carrying a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Venkatesan Street's guideline value of Rs 1,600 per sq.ft is below this median.

• Venkatasamy Street: Rs 2,400 per sq.ft (2024)
• Vembuliamman koil Street: Rs 950 per sq.ft (2024)
• Velmurugan street: Rs 950 per sq.ft (2024)
• Venu Reddy Street: Rs 1,600 per sq.ft (2024)
• Velachery Main Road: Rs 6,500 per sq.ft (2024)
• Veerabedran Street: Rs 1,100 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers Venkatesan Street?

The Sub Registrar Office that covers Venkatesan Street is 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 for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Selaiyur, the guideline value ensures that the transaction is recorded at a legitimate price, preventing undervaluation.

During registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 256% over the years.

What is the registration fee for property in Venkatesan Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 16,00,000, the registration fee would be Rs 32,000.

Where is the Sub Registrar Office for Venkatesan Street located?

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

How is the stamp duty calculated for properties in Selaiyur?

The stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.