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Guideline Value

Corporate

Guideline Value for Venkatesh Nagar 1st Cross Street

₹4950/sq.ft.

The guideline value for Venkatesh Nagar 1st Cross Street in Saligramam village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saligramam

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Venkatesh Nagar 1st Cross Street

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Venkatesh Nagar 1st Cross Street guideline value

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

How the guideline value of Venkatesh Nagar 1st Cross Street has changed

Over the years, the guideline value of Venkatesh Nagar 1st Cross Street has seen significant changes. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 309%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The following revisions saw a notable increase, with the 2023 figure at Rs 4,500 per sq.ft, and the latest 2024 revision reflecting a value of Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 350%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the 2024 guideline value of Venkatesh Nagar 1st Cross Street above the median.

Stamp duty and registration fee for property in Venkatesh Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesh Nagar 1st Cross Street?

The Venkatesh Nagar 1st Cross Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Saligramam. It serves as the benchmark for determining the registration fees and stamp duty payable when a property is sold or purchased. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar 1st Cross Street?

The current guideline value of Venkatesh Nagar 1st Cross 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 increased from Rs 1,100 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 350% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office is responsible for Venkatesh Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office is responsible for Venkatesh Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, with Venkatesh Nagar 1st Cross Street's value being above this median at Rs 4,950 per sq.ft.