Guideline Value for Venkateshwara Avenue 4 Street

Venkateshwara Avenue 4 Street guideline value

The current guideline value of Venkateshwara Avenue 4 Street is Rs 2,200 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 II Type - II.

How the guideline value of Venkateshwara Avenue 4 Street has changed

The guideline value for Venkateshwara Avenue 4 Street has undergone 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, marking a 900% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, 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 1000%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value in this area is Rs 1,940 per sq.ft, placing Venkateshwara Avenue 4 Street above that median.

• Venkateshwara Avenue 3 Street: Rs 2,200 per sq.ft (2024)
• Venkateshwara Avenue 2 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 4 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees 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 use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Venkateshwara Avenue 4 Street?

The Venkateshwara Avenue 4 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 information.

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 minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When registering a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Avenue 4 Street?

The current guideline value of Venkateshwara Avenue 4 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, marking an overall increase of 1000% over the years.

What are the other streets in Thirusulam with similar guideline values?

Other streets in Thirusulam with similar guideline values include Venkateshwara Avenue 3 Street and Venkateshwara Avenue 2 Street, both at Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate for properties in Venkateshwara Avenue 4 Street?

The stamp duty rate for properties in Venkateshwara Avenue 4 Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateshwara Avenue 4 Street?

The Sub Registrar Office covering Venkateshwara Avenue 4 Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.