Guideline Value for Venkatesapuram colony Extension

Venkatesapuram colony Extension guideline value

The current guideline value for Venkatesapuram colony Extension is Rs 4,900 per sq.ft, effective from 1 July 2024. This area 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 Extension has changed

The guideline value for Venkatesapuram colony Extension has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 835 per sq.ft. This increased significantly to Rs 2,400 per sq.ft in 2007, marking an increase of 187%. In 2012, the value was revised to Rs 4,500 per sq.ft, which represented a decrease of 33% from the previous figure. The guideline value then rose to Rs 3,015 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 4,500 per sq.ft, and the latest revision in 2024 increased it to Rs 4,900 per sq.ft, a rise of 9%.

It is important to note that there is no figure for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 487%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with 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 the same as the 2024 figure for Venkatesapuram colony Extension.

• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony North Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 2nd Cross 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 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be 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 together 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram colony Extension?

The Sub Registrar Office that covers Venkatesapuram colony Extension is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a critical factor when buying or selling property in Ayanavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office will use the guideline value to assess the applicable fees, ensuring that the transaction complies with local regulations.

Frequently asked questions

What is the current guideline value of Venkatesapuram colony Extension?

The current guideline value of Venkatesapuram colony Extension 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 increased from Rs 835 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 487% across the years.

What is the land classification for Venkatesapuram colony Extension?

Venkatesapuram colony Extension is classified as Residential Class I Type - III, which indicates the type of development permissible in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Venkatesapuram colony Extension is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkatesapuram colony Extension?

The Sub Registrar Office for Venkatesapuram colony Extension is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.