Guideline Value for Venkateshwara Avenue 1 Street

Venkateshwara Avenue 1 Street guideline value

The current guideline value for Venkateshwara Avenue 1 Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venkateshwara Avenue 1 Street has changed

The guideline value for Venkateshwara Avenue 1 Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and further increased to the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thirusulam

In Thirusulam, there are a total of 74 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 1,940 per sq.ft, indicating that Venkateshwara Avenue 1 Street's 2024 figure is below the median.

• Venkateshwara Avenue 2 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 3 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 4 Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 1 To 5 Streets: Rs 1,100 per sq.ft (2024)
• Vambuliamman Koil Street: Rs 1,100 per sq.ft (2024)
• Vaithiyar Street Extn: Rs 1,940 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Avenue 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, together totaling Rs 99,000. 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 Venkateshwara Avenue 1 Street?

The Sub Registrar Office that covers Venkateshwara Avenue 1 Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirusulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Venkateshwara Avenue 1 Street?

The current guideline value for Venkateshwara Avenue 1 Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What is the registration office for Venkateshwara Avenue 1 Street?

The registration office for Venkateshwara Avenue 1 Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirusulam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.