Guideline Value for Venkateshwara Cross Street

Venkateshwara Cross Street guideline value

The current guideline value of Venkateshwara Cross Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateshwara Cross Street has changed

Since the 2003 revision, the guideline value has seen significant changes. In 2003, the value was Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 65% rise. The value then surged to Rs 3,200 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is a 64% increase from 2017. Notably, there are no figures available for the years 2023 and 2002 for this street.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 624%. This indicates a substantial change over the years, with various fluctuations in between the revisions.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Venkateshwara Cross Street's 2024 figure above this median.

• Venkateshwara Nagar: Rs 3,520 per sq.ft (2024)
• Venkateshwara Street: Rs 3,520 per sq.ft (2024)
• Vembuli Nagar: Rs 3,300 per sq.ft (2024)
• Vembuliamman Koil 8th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 7th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. 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 Cross Street?

The Sub Registrar Office that covers Venkateshwara Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure they are compliant with the legal requirements during property transactions.

When a property is registered, the guideline value is considered to ascertain the applicable fees. This ensures that both parties in the transaction are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Venkateshwara Cross Street?

The current guideline value of Venkateshwara Cross Street is Rs 3,520 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 486 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 624% over this period.

What are the other streets with the same guideline value in Zaminpallavaram?

Other streets in Zaminpallavaram with the same guideline value of Rs 3,520 per sq.ft in 2024 include Venkateshwara Nagar and Venkateshwara Street.

What is the registration fee for a property in Venkateshwara Cross Street?

The registration fee for a property is calculated at 2% of the guideline value. For a property valued at Rs 35,20,000, the registration fee would be Rs 70,400.

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

The Sub Registrar Office for Venkateshwara Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information by visiting the relevant link.