Guideline Value for Venkatesh Nagar 4th Street

Venkatesh Nagar 4th Street guideline value

The current guideline value of Venkatesh Nagar 4th Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Venkatesh Nagar 4th Street has changed

The guideline value for Venkatesh Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 664 per sq.ft. This increased to Rs 725 per sq.ft in 2003, marking a change of +9%. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, an increase of +52%. By 2012, the value had risen significantly to Rs 4,500 per sq.ft, reflecting a substantial increase of +309%. However, from 2012 to 2017, the guideline value decreased to Rs 3,015 per sq.ft, a drop of -33%. The value then increased to Rs 4,500 per sq.ft in 2023, followed by a rise to the current value of Rs 4,950 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +645%. The register does not have figures for the years between these revisions for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, and Venkatesh Nagar 4th Street's 2024 guideline value is above this median.

• Venkatesh Nagar 3rd Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 2nd Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 2nd Main Road (Sastri Nagar): Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesh Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatesh Nagar 4th Street?

The Venkatesh Nagar 4th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Saligramam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are paid based on a fair valuation of the property.

It is crucial for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. This value is regularly updated to reflect changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar 4th Street?

The current guideline value of Venkatesh Nagar 4th Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 664 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +645% over the years.

What is the land classification for Venkatesh Nagar 4th Street?

Venkatesh Nagar 4th Street is classified as Residential Class I Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.