Guideline Value for Venkateshwara Avenue 2 Street

Venkateshwara Avenue 2 Street guideline value

The current guideline value of Venkateshwara Avenue 2 Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venkateshwara Avenue 2 Street has changed

The guideline value for Venkateshwara Avenue 2 Street has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes are notable. The increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The value decreased by 33% from 2012 to 2017, and there was a remarkable increase of 900% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO, with guideline values 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, placing Venkateshwara Avenue 2 Street above this median.

• Venkateshwara Avenue 1 Street: Rs 1,100 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 2 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 2 Street?

The Venkateshwara Avenue 2 Street falls under 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 property transactions in Thirusulam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating the fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Venkateshwara Avenue 2 Street?

The current guideline value of Venkateshwara Avenue 2 Street is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting a total increase of 1000% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Venkateshwara Avenue 2 Street?

The Pallavaram Sub Registrar Office handles registrations for Venkateshwara Avenue 2 Street, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the land classification for Venkateshwara Avenue 2 Street?

The land classification for Venkateshwara Avenue 2 Street is Residential Class II Type - II.