Guideline Value for Venkateswara Street

Venkateswara Street guideline value

The current guideline value of Venkateswara Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Street has changed

The guideline value for Venkateswara Street has undergone several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft, which changed to Rs 241 per sq.ft in 2003, marking a decrease of 12%. The value then increased to Rs 300 per sq.ft in 2007, followed by a significant rise to Rs 1,072 per sq.ft in 2017, reflecting a 257% increase. The 2023 revision set the value at Rs 1,600 per sq.ft, showing a 49% increase from the previous figure.

The most recent revision in 2024 has further increased the guideline value to Rs 1,760 per sq.ft, which is a 10% rise from the 2023 figure. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Anakaputhur

Anakaputhur village has a total of 501 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, indicating that Venkateswara Street's current guideline value is below this median.

• Venkateswara Nagar Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar Thangal Road: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar Thangal Ist Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar Rajendran Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar Rajarajan Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar Rajaji Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara Street?

The Sub Registrar Office that covers Venkateswara 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining 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 is used to assess the applicable fees, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Street?

The current guideline value of Venkateswara Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 274 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 542% over the years.

What is the land classification for Venkateswara Street?

Venkateswara Street is classified as Residential Class II Type - I under the current land classification system.

How is the stamp duty calculated for properties in Venkateswara Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200.

Where is the Sub Registrar Office located for Venkateswara Street?

The Sub Registrar Office for Venkateswara Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.