Guideline Value for Venkateshwarar Street Extn

Venkateshwarar Street Extn guideline value

The current guideline value for Venkateshwarar Street Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Venkateshwarar Street Extn has changed

Over the years, the guideline value of Venkateshwarar Street Extn has seen significant changes. In 2007, the guideline value was Rs 250 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012, marking a rise of 380%. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 428%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

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

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

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwarar Street Extn?

The Sub Registrar Office that covers Venkateshwarar Street Extn is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these costs can significantly affect the overall expenses involved in a property transaction.

When registering a property, the guideline value serves as a baseline for calculating applicable taxes. It is important for buyers and sellers to understand that the guideline value may differ from the actual sale price, and the higher of the two will be considered for taxation purposes.

Frequently asked questions

What is the current guideline value of Venkateshwarar Street Extn?

The current guideline value of Venkateshwarar Street Extn 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 significantly from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What is the land classification for Venkateshwarar Street Extn?

Venkateshwarar Street Extn falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Venkateshwarar Street Extn?

The Padappai Sub Registrar Office covers Venkateshwarar Street Extn and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Venkateshwarar Street Extn?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.