Guideline Value for Venkateswara Nagar 2nd Street

Venkateswara Nagar 2nd Street guideline value

The current guideline value of Venkateswara Nagar 2nd Street is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Venkateswara Nagar 2nd Street has changed

The guideline value for Venkateswara Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,900 per sq.ft, which was followed by a decrease to Rs 1,273 per sq.ft in the 2017 revision. The most recent revision in 2024 raised the value to Rs 2,000 per sq.ft, marking an increase of 57% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 5%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes between the revisions highlight the fluctuations in the guideline value over time.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, positioning Venkateswara Nagar 2nd Street's 2024 figure below that median.

• Venkateswara Nagar 3rd Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ayyappan Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ext 1 Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ext 2 Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,000 per sq.ft, the guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating fees.

Which Sub Registrar Office covers Venkateswara Nagar 2nd Street?

The Sub Registrar Office that covers Venkateswara Nagar 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that are payable when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 2nd Street?

The current guideline value of Venkateswara Nagar 2nd Street is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,900 per sq.ft in 2012 to Rs 1,273 per sq.ft in 2017, and then increased to Rs 2,000 per sq.ft in 2024. This represents a 57% increase from 2017 to 2024 and a 5% increase overall from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Venkateswara Nagar 2nd Street?

The Ambattur Sub Registrar Office handles the registration for Venkateswara Nagar 2nd Street. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft. The guideline value for Venkateswara Nagar 2nd Street is below this median at Rs 2,000 per sq.ft.