Guideline Value for Venkateswara Nagar Ext 2 Street

Venkateswara Nagar Ext 2 Street guideline value

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

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

The guideline value for Venkateswara Nagar Ext 2 Street has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,900 per sq.ft. This was followed by a decrease to Rs 1,273 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly to Rs 2,000 per sq.ft, marking a 57% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 5%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street in the register.

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 Venkateswara Nagar Ext 2 Street's 2024 figure below that median.

• Venkateswara Nagar Ext 1 Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ext 3 Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ayyappan 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 2 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, and the registration fee at 2% would be Rs 40,000, bringing the total amount payable to Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar Ext 2 Street?

The Sub Registrar Office that covers Venkateswara Nagar Ext 2 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 a critical factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Venkateswara Nagar Ext 2 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. Overall, there has been a 5% increase from 2012 to 2024.

What is the land classification for Venkateswara Nagar Ext 2 Street?

The land classification for Venkateswara Nagar Ext 2 Street is Residential Class I Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Venkateswara Nagar Ext 2 Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

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