Guideline Value for Venkateswara Street

Venkateswara Street guideline value

The current guideline value of Venkateswara Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal Sub Registrar Office (SRO), and it falls under the Residential Class I Type - II land classification.

How the guideline value of Venkateswara Street has changed

The guideline value for Venkateswara Street has seen significant increases over the years. In 2002, the value was Rs 134 per sq.ft, which rose to Rs 312 per sq.ft in 2003, marking a 133% increase. The value continued to rise, reaching Rs 350 per sq.ft in 2007, an increase of 12%. By 2017, the guideline value jumped to Rs 1,340 per sq.ft, reflecting a substantial 283% increase from the previous revision. The 2023 revision set the value at Rs 2,000 per sq.ft, a 49% increase from 2017.

The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from 2023. It is important to note that the register has no figure for this street for the year 2012.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that Venkateswara Street's 2024 value is below this median.

• V.G.N. Grand Historia: Rs 2,200 per sq.ft (2024)
• Venkatesan Street: Rs 2,200 per sq.ft (2024)
• Venkataraman Street: Rs 2,420 per sq.ft (2024)
• Vgn Samudra: Rs 4,930 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 4th Cross 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 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.

You can use the stamp duty and registration fee calculator for more details on your specific property transactions.

Which Sub Registrar Office covers Venkateswara Street?

The Pammal Sub Registrar Office covers Venkateswara Street. The address is 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 Thiruneermalai

The guideline value is an essential factor when registering a property in Thiruneermalai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures transparency and compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Venkateswara Street?

The current guideline value of Venkateswara 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 significantly from Rs 134 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1542% over the years.

What is the land classification of Venkateswara Street?

Venkateswara Street is classified under Residential Class I Type - II land classification.

Where can I find the Pammal Sub Registrar Office?

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

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

Stamp duty is calculated at 7% of 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.