Guideline Value for Venkateswara Nagar 4th Street

Venkateswara Nagar 4th Street guideline value

The current guideline value for Venkateswara Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Venkateswara Nagar 4th Street has changed

The guideline value for Venkateswara Nagar 4th Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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, placing Venkateswara Nagar 4th Street above this median.

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

Stamp duty and registration fee for property in Venkateswara Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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 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.

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

Which Sub Registrar Office covers Venkateswara Nagar 4th Street?

The Sub Registrar Office covering Venkateswara Nagar 4th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 plays a crucial role during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is calculated on the higher of the two.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 4th Street?

The current guideline value of Venkateswara Nagar 4th Street 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the land classification for Venkateswara Nagar 4th Street?

Venkateswara Nagar 4th Street is classified as Commercial Class I Type - I, which indicates its use for commercial purposes.

Where can I find the registration office for Venkateswara Nagar 4th Street?

The registration office for Venkateswara Nagar 4th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Pozhichalur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.