Guideline Value for Venkatesapuram

Venkatesapuram guideline value

The current guideline value of Venkatesapuram is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Venkatesapuram has changed

Over the years, the guideline value of Venkatesapuram has seen several revisions. The 2007 revision set the value at Rs 72 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 317%. However, from 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 400 per sq.ft, showing a 99% increase from the 2017 figure.

The latest revision in 2024 also holds the guideline value at Rs 400 per sq.ft, indicating no change from the previous year. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Acharapakkam

Acharapakkam has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value in this area is Rs 400 per sq.ft, which aligns with the current value for Venkatesapuram.

• Venkatesapuram 1st Street Ward 14: Rs 300 per sq.ft (2024)
• Venkatesapuram 2rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 3rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 4th Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 5th Street Ward 1: Rs 300 per sq.ft (2024)
• Varada Reddiar Colony: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkatesapuram?

The Sub Registrar Office that covers Venkatesapuram is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Acharapakkam. It determines the minimum value at which properties can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesapuram?

The current guideline value of Venkatesapuram is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 72 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, with notable changes in each revision year.

What is the land classification for Venkatesapuram?

The land classification for Venkatesapuram is Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Venkatesapuram?

The Acchirapakkam Sub Registrar Office covers Venkatesapuram and is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Venkatesapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.