Guideline Value for Venkateswara Nagar 3rd Cross Street

Venkateswara Nagar 3rd Cross Street guideline value

The current guideline value of Venkateswara Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - I.

How the guideline value of Venkateswara Nagar 3rd Cross Street has changed

The guideline value for Venkateswara Nagar 3rd Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was then increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, indicating that Venkateswara Nagar 3rd Cross Street's 2024 figure is above the median.

• Venkateswara Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 3rd Cross Street

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, totaling 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkateswara Nagar 3rd Cross Street?

The Venkateswara Nagar 3rd Cross Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 3rd Cross Street?

The current guideline value of Venkateswara Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a 64% overall increase. The most recent change from 2023 to 2024 was a 10% increase.

What are the guideline values for other streets in Pozhichalur?

Other streets in Pozhichalur under the Pammal SRO have guideline values ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft.

How is stamp duty calculated for properties in Venkateswara Nagar 3rd Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 1,54,000.

Which office handles property registrations for Venkateswara Nagar 3rd Cross Street?

The Pammal Sub Registrar Office handles property registrations for Venkateswara Nagar 3rd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.