Guideline Value for Venkateshwara Avenue 3 Street

Venkateshwara Avenue 3 Street guideline value

The current guideline value of Venkateshwara Avenue 3 Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class II Type - II.

How the guideline value of Venkateshwara Avenue 3 Street has changed

The guideline value for Venkateshwara Avenue 3 Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 900%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%, showcasing significant changes in the property valuation over the years.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, positioning Venkateshwara Avenue 3 Street above this median.

• Venkateshwara Avenue 2 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 4 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 1 Street: Rs 1,100 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 3 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Venkateshwara Avenue 3 Street?

The Venkateshwara Avenue 3 Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Thirusulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall costs associated with the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Venkateshwara Avenue 3 Street?

The current guideline value of Venkateshwara Avenue 3 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 an overall increase of 1000% over the years.

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

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 Sub Registrar Office should I visit for transactions?

The Pallavaram Sub Registrar Office covers Venkateshwara Avenue 3 Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as the minimum value for property registration in the area.