Guideline Value for Venkateswara Nagar Ext 1 Street

Venkateswara Nagar Ext 1 Street guideline value

The current guideline value of Venkateswara Nagar Ext 1 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 is classified as Residential Class I Type - III.

How the guideline value of Venkateswara Nagar Ext 1 Street has changed

Over the years, the guideline value of Venkateswara Nagar Ext 1 Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,000 per sq.ft, which reflects a significant increase of 57% from the 2017 revision of Rs 1,273 per sq.ft. Prior to that, the 2012 revision recorded a value of Rs 1,900 per sq.ft, marking a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 5%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 guideline value of Venkateswara Nagar Ext 1 Street below this median.

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

Stamp duty and registration fee for property in Venkateswara Nagar Ext 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, while the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar Ext 1 Street?

The Venkateswara Nagar Ext 1 Street falls under 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 plays a crucial role when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to government standards.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Ext 1 Street?

The current guideline value of Venkateswara Nagar Ext 1 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 to Rs 2,000 per sq.ft in 2024. This represents an overall increase of 5% 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.

Which Sub Registrar Office should I approach for transactions in Venkateswara Nagar Ext 1 Street?

The Ambattur Sub Registrar Office covers Venkateswara Nagar Ext 1 Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Venkateswara Nagar Ext 1 Street?

Venkateswara Nagar Ext 1 Street is classified as Residential Class I Type - III, which indicates its suitability for residential development.