Guideline Value for Venkateswara Avenue Lane

Venkateswara Avenue Lane guideline value

The current guideline value of Venkateswara Avenue Lane is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Venkateswara Avenue Lane has changed

The guideline value for Venkateswara Avenue Lane has seen several revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,200 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, indicating that Venkateswara Avenue Lane's 2024 figure is below that median.

• Venkateswara Avenue Road: Rs 3,520 per sq.ft (2024)
• Venkateshwara Nagar 4th Main Road: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 3rd Main Road: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 25th Street: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 24th Street: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar: Rs 6,380 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Avenue Lane

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 to Rs 3,16,800. It is important to note that 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 Venkateswara Avenue Lane?

The Sub Registrar Office covering Venkateswara Avenue Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Avenue Lane?

The current guideline value of Venkateswara Avenue Lane 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 from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the classification of Venkateswara Avenue Lane?

Venkateswara Avenue Lane is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty rates for properties in Venkateswara Avenue Lane?

The stamp duty rate for properties in Venkateswara Avenue Lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.