Guideline Value for Venkatesapuram 2rd Street Ward 15

Venkatesapuram 2rd Street Ward 15 guideline value

The current guideline value of Venkatesapuram 2rd Street Ward 15 is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkatesapuram 2rd Street Ward 15 has changed

The guideline value for Venkatesapuram 2rd Street Ward 15 has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 100 per sq.ft. This increased to Rs 200 per sq.ft in 2012, representing a 100% increase. However, the value then decreased to Rs 134 per sq.ft in 2017, marking a decline of 33%. In 2023, the value remained stable at Rs 300 per sq.ft, and this figure was maintained in the 2024 revision, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 200%. Notably, there are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing the 2024 guideline value of Venkatesapuram 2rd Street Ward 15 below this median.

• Venkatesapuram 1st Street Ward 14: Rs 300 per sq.ft (2024)
• Venkatesapuram 3rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 4th Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 5th Street Ward 1: Rs 300 per sq.ft (2024)
• Venkatesapuram: Rs 400 per sq.ft (2024)
• Varada Reddiar Colony: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 2rd Street Ward 15

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, leading to a total of Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venkatesapuram 2rd Street Ward 15?

The Sub Registrar Office that covers Venkatesapuram 2rd Street Ward 15 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Acharapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

At the time of registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Venkatesapuram 2rd Street Ward 15?

The current guideline value of Venkatesapuram 2rd Street Ward 15 is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in both 2023 and 2024. The value increased by 200% overall from 2007 to 2024.

What are the other streets in Acharapakkam with the same guideline value?

Other streets in Acharapakkam that share the same guideline value of Rs 300 per sq.ft for 2024 include Venkatesapuram 1st Street Ward 14, Venkatesapuram 3rd Street Ward 15, Venkatesapuram 4th Street Ward 15, and Venkatesapuram 5th Street Ward 1.

What is the registration fee for property in Venkatesapuram 2rd Street Ward 15?

The registration fee for property in Venkatesapuram 2rd Street Ward 15 is calculated based on the guideline value. For example, for a property valued at Rs 3,00,000, the registration fee would be Rs 6,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Venkatesapuram 2rd Street Ward 15?

The Sub Registrar Office for Venkatesapuram 2rd Street Ward 15 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.