Guideline Value for Venkateshwara Road

Venkateshwara Road guideline value

The current guideline value of Venkateshwara Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venkateshwara Road has changed

The guideline value for Venkateshwara Road has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft by 2012, marking a rise of 380%. However, from 2012 to 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then surged to Rs 1,200 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 428%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Venkateshwara Road's 2024 figure is below this median.

• Venkateshwara Nagar S.No.185/3.211,212,213: Rs 1,320 per sq.ft (2024)
• Venkateshwarar Street: Rs 2,640 per sq.ft (2024)
• Venkateshwarar Street Extn: Rs 1,320 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,980 per sq.ft (2024)
• Venkateshwara Avenue and Extn: Rs 1,980 per sq.ft (2024)
• Venkatesh Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venkateshwara Road?

The Sub Registrar Office covering Venkateshwara Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must ensure that the guideline value is considered to comply with legal requirements during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Venkateshwara Road?

The current guideline value of Venkateshwara Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 428% over the years, with various fluctuations in between.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, while Venkateshwara Road's current value is below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total fees would amount to Rs 1,18,800.

Where can I find the Sub Registrar Office for Venkateshwara Road?

The Sub Registrar Office for Venkateshwara Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.