Guideline Value for Venkatesapuram colony Ist Cross Street

Venkatesapuram colony Ist Cross Street guideline value

The current guideline value for Venkatesapuram colony Ist 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, classified as Residential Class I Type - III.

How the guideline value of Venkatesapuram colony Ist Cross Street has changed

The guideline value for Venkatesapuram colony Ist Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,400 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, representing an increase of 88%. However, in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The 2023 revision raised it to Rs 4,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 4,900 per sq.ft, marking a 9% rise.

From the 2017 revision to 2023, there was a significant increase of 49%. 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 that carry a 2024 guideline value, 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 of Venkatesapuram colony Ist Cross Street.

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

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

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

Which Sub Registrar Office covers Venkatesapuram colony Ist Cross Street?

The Sub Registrar Office that covers Venkatesapuram colony Ist Cross Street 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 in the registration process of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value or the sale price, whichever is higher, is considered for calculating 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 for Venkatesapuram colony Ist Cross Street?

The current guideline value for Venkatesapuram colony Ist 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, marking an overall increase of 104% over the years.

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

Other streets in Ayanavaram with the same guideline value of Rs 4,900 per sq.ft include Venkatesapuram colony Extension, Venkatesapuram colony Angadi Street, Venkatesapuram colony North Street, Venkatesapuram colony 3rd Cross Street, Venkatesapuram colony South Street, and Venkatesapuram colony 2nd Cross Street.

Where is the Sub Registrar Office for Venkatesapuram colony Ist Cross Street located?

The Sub Registrar Office for Venkatesapuram colony Ist Cross Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Ayanavaram?

Stamp duty for properties in Ayanavaram is calculated based on the higher of the guideline value or the sale price. The current stamp duty rate is 7%, and the registration fee is 2% of the guideline value or sale price.