Guideline Value for Venkatesapuram colony 2nd Cross Street

Venkatesapuram colony 2nd Cross Street guideline value

The current guideline value of Venkatesapuram colony 2nd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venkatesapuram colony 2nd Cross Street has changed

The guideline value for Venkatesapuram colony 2nd Cross Street has undergone several revisions over the years. The 2007 revision recorded a guideline value of Rs 2,400 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2012 revision. However, this value decreased to Rs 3,015 per sq.ft in 2017. Following this, the 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision increased it to Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Between the years, the changes in guideline values have been significant. From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 88%. Overall, from 2007 to 2024, the guideline value has increased by 104%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value for Venkatesapuram colony 2nd Cross Street.

• Venkatesapuram colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Extension: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony North Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony South Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram colony 2nd Cross Street?

The Sub Registrar Office that covers Venkatesapuram colony 2nd Cross Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of this value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesapuram colony 2nd Cross Street?

The current guideline value of Venkatesapuram colony 2nd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 2,400 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 104% over this period.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations in Venkatesapuram colony?

The AnnaNagar Sub Registrar Office is responsible for property registrations in Venkatesapuram colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is the same as the current guideline value for Venkatesapuram colony 2nd Cross Street.