Guideline Value for Venkatesapuram colony 3rd Cross Street

Venkatesapuram colony 3rd Cross Street guideline value

The current guideline value of Venkatesapuram colony 3rd Cross Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Venkatesapuram colony 3rd Cross Street has changed

The guideline value for Venkatesapuram colony 3rd Cross Street has seen several revisions over the years. In 2007, the value was Rs 2,400 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 9% from 2023 to 2024. The overall change from 2007 to 2024 reflects an increase of 104%. The fluctuations in the guideline value highlight the adjustments made over time, with the most significant rise occurring between 2007 and 2012, which saw an increase of 88%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which is the same as the current value for Venkatesapuram colony 3rd Cross Street.

• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 2nd Cross 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)
• Venkatesa puram 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 3rd 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 charges 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram colony 3rd Cross Street?

The Sub Registrar Office that covers Venkatesapuram colony 3rd 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 more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is assessed to calculate the applicable charges. Buyers should be aware that the stamp duty and registration fee will be based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Venkatesapuram colony 3rd Cross Street?

The current guideline value of Venkatesapuram colony 3rd 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 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 the years.

What is the land classification for Venkatesapuram colony 3rd Cross Street?

The land classification for Venkatesapuram colony 3rd Cross Street is Residential Class I Type - III.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.