Guideline Value for Venkatesapuram colony South Street

Venkatesapuram colony South Street guideline value

The current guideline value of Venkatesapuram colony South 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 South Street has changed

The guideline value for Venkatesapuram colony South Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 1,292 per sq.ft, which increased to Rs 2,400 per sq.ft in 2007. This was followed by a significant rise to Rs 4,500 per sq.ft in 2012, but it then decreased to Rs 3,015 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 4,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft. The register has no figure for this street in 2002.

In terms of percentage changes, the value increased by 9% from 2023 to 2024, while there was a 49% increase from 2017 to 2023. The value saw a decrease of 33% from 2012 to 2017, and an increase of 88% from 2007 to 2012. The jump from 2003 to 2007 was 86%. Overall, from 2003 to 2024, the guideline value has increased by 279%.

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 matches the current value for Venkatesapuram colony South Street.

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

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, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost for these fees Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram colony South Street?

The Sub Registrar Office covering Venkatesapuram colony South 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 details.

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

The guideline value plays a crucial role in the property registration process in Ayanavaram. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that they are based on the official valuation set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Accurate knowledge of this value can help in understanding the costs involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Venkatesapuram colony South Street?

The current guideline value of Venkatesapuram colony South 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 1,292 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 279% over this period.

What is the land classification for Venkatesapuram colony South Street?

Venkatesapuram colony South Street is classified as Residential Class I Type - III under the current guidelines.

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

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

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. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.