Guideline Value for Venkateshwarar Street

Venkateshwarar Street guideline value

The current guideline value of Venkateshwarar Street is Rs 2,640 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Venkateshwarar Street has changed

The guideline value for Venkateshwarar Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 2,400 per sq.ft in 2012. However, it dropped to Rs 1,608 per sq.ft in 2017. The value then rose sharply to Rs 2,400 per sq.ft in 2023, and currently stands at Rs 2,640 per sq.ft in 2024. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% increase. The most dramatic change occurred between 2007 and 2012, where the value surged by 860%. Overall, from 2007 to 2024, there has been an increase of 956% in the guideline value.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, placing Venkateshwarar Street's 2024 figure above this median.

• Venkateshwara Road: Rs 1,320 per sq.ft (2024)
• Venkateshwarar Street Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwarar Street?

The Sub Registrar Office that covers Venkateshwarar Street 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 during the registration of property transactions in Perungalathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to understand that the guideline value can influence the overall transaction costs. Buyers should be aware that the duty is charged based on the higher value between the guideline and the sale price, which can affect the total amount payable at the time of registration.

Frequently asked questions

What is the current guideline value of Venkateshwarar Street?

The current guideline value of Venkateshwarar Street is Rs 2,640 per sq.ft as per the 2024 revision.

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 2,640 per sq.ft in 2024, reflecting an overall increase of 956% since 2007.

What is the stamp duty for property in Venkateshwarar Street?

The stamp duty for property in Venkateshwarar Street is 7% of the guideline value, which would be Rs 1,84,800 for a 1,000 sq.ft plot at the current rate.

Which Sub Registrar Office covers this area?

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

What are the other streets in Perungalathur?

Other streets in Perungalathur include Venkateshwara Road, Venkateshwarar Street Extn, Venkateshwara Nagar, and Venkatesh Nagar, among others, each with their respective guideline values.