Guideline Value for Venkatesan Street

Venkatesan Street guideline value

The current guideline value of Venkatesan Street in Peerklankaranai village is Rs 1,980 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 - I.

How the guideline value of Venkatesan Street has changed

The guideline value for Venkatesan Street has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and then further rose to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, 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 for these streets is Rs 1,650 per sq.ft, placing Venkatesan Street's 2024 figure above this median.

• Venkatesan Cross St: Rs 1,650 per sq.ft (2024)
• Venkata swami Street: Rs 1,320 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. 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 further calculations.

Which Sub Registrar Office covers Venkatesan Street?

The Sub Registrar Office that covers Venkatesan Street 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 Peerklankaranai

The guideline value is a crucial factor during property registration in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that a buyer must pay when purchasing a property. This ensures that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for legal documentation. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Venkatesan Street?

The current guideline value of Venkatesan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the registration fee for properties on Venkatesan Street?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the registration fee would be Rs 39,600.

Which office handles registrations for Venkatesan Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Venkatesan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors including land classification and historical data. It is revised periodically to reflect changes in the real estate market.