Guideline Value for Venkateswara Avenue

Venkateswara Avenue guideline value

The current guideline value of Venkateswara Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Venkateswara Avenue has changed

The guideline value for Venkateswara Avenue has undergone several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 1233%. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. In 2023, the value rose to Rs 2,000 per sq.ft, and in the latest revision for 2024, it has increased to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Venkateswara Avenue for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1367%.

Guideline values in Mudichur

Mudichur village has a range of guideline values across its 135 streets under the Padappai SRO, with values ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Venkateswara Avenue.

• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Veeraraghava Nagar: Rs 3,630 per sq.ft (2024)
• Vasudeva Nagar: Rs 3,630 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara Avenue?

The Sub Registrar Office that covers Venkateswara Avenue 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mudichur. 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 registered, the guideline value is assessed to ensure that the appropriate taxes are collected. This value is used to calculate the stamp duty based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Venkateswara Avenue?

The current guideline value of Venkateswara Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1367% over the years.

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

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

What is the registration fee for properties in Venkateswara Avenue?

The registration fee for properties is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Avenue?

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