Guideline Value for Venkatesaperumal Street

Venkatesaperumal Street guideline value

The current guideline value of Venkatesaperumal Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Porunthavakkam village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venkatesaperumal Street has changed

The guideline value for Venkatesaperumal Street has undergone several revisions over the years. In 2003, the rate was Rs 407 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a significant rise of 72%. The value then surged to Rs 2,200 per sq.ft in 2012, reflecting a remarkable increase of 214%. However, it saw a decrease to Rs 1,474 per sq.ft in 2017, a drop of 33%. The guideline value then increased to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,420 per sq.ft from the 2024 revision, which is a rise of 10% from the previous year.

It is important to note that the register has no figure for Venkatesaperumal Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 495%.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which is equal to the current figure for Venkatesaperumal Street.

• Senthuran Colony: Rs 3,300 per sq.ft (2024)
• Sathsangam Street: Rs 2,420 per sq.ft (2024)
• Saraswathi Street: Rs 1,760 per sq.ft (2024)
• Sankaran Street: Rs 2,750 per sq.ft (2024)
• Sabari Salai: Rs 3,300 per sq.ft (2024)
• Park Square Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesaperumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty, charged at 7%, would be Rs 1,69,400, and the registration fee, at 2%, would be Rs 48,400, totaling Rs 2,17,800. It is important to note that stamp 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 Venkatesaperumal Street?

The Sub Registrar Office that covers Venkatesaperumal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Porunthavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a baseline for negotiations. It is essential to be aware of the current guideline value to ensure compliance with legal requirements and avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesaperumal Street?

The current guideline value of Venkatesaperumal Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 407 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the registration office for Venkatesaperumal Street?

The registration office for Venkatesaperumal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 2,17,800.

How many streets in Porunthavakkam have a guideline value?

There are 23 streets in Porunthavakkam under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,760 to Rs 4,950 per sq.ft.