Guideline Value for Venkateshwara Street

Venkateshwara Street guideline value

The current guideline value of Venkateshwara 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 Street has changed

The guideline value for Venkateshwara Street has seen several revisions over the years. In 2003, the guideline 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, an increase of 300%. However, it dropped to Rs 2,144 per sq.ft in 2017, a decline of 33%. The latest revision in 2024 set the value at Rs 3,520 per sq.ft, reflecting a significant increase of 64% from the previous figure.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 624%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with 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 Street's 2024 figure above this median.

• Venkateshwara Nagar: Rs 3,520 per sq.ft (2024)
• Venkateshwara Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost to 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Street?

The Sub Registrar Office that covers Venkateshwara Street is 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 Zaminpallavaram

The guideline value is a crucial factor in property registration in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property transactions. The guideline value may vary from one street to another, so it is advisable to check the specific value for the property in question.

Frequently asked questions

What is the current guideline value of Venkateshwara Street?

The current guideline value of Venkateshwara 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 is the land classification of Venkateshwara Street?

Venkateshwara Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Venkateshwara Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,16,800.

Which office handles property registrations for Venkateshwara Street?

The Pallavaram Sub Registrar Office handles property registrations for Venkateshwara Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.