Guideline Value for Venpurusham Village 1st Cross Street

Venpurusham Village 1st Cross Street guideline value

The current guideline value of Venpurusham Village 1st Cross Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village under the Thirukazhukundram SRO and falls under Residential Class V Type - I land classification.

How the guideline value of Venpurusham Village 1st Cross Street has changed

The guideline value for Venpurusham Village 1st Cross Street has undergone several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which remained the same until 2017 when it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 550 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO with a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value for Venpurusham Village 1st Cross Street is below this median.

• Venpurusham to Five Radhas Joint Road: Rs 935 per sq.ft (2024)
• Venpurusham Village 2nd Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 3rd Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 4th Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village B.G.Road: Rs 550 per sq.ft (2024)
• Venpurusham Village Road: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Venpurusham Village 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. 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 detailed calculations.

Which Sub Registrar Office covers Venpurusham Village 1st Cross Street?

The Sub Registrar Office covering Venpurusham Village 1st Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring transparency in property dealings.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Venpurusham Village 1st Cross Street?

The current guideline value of Venpurusham Village 1st Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other guideline values in Mamallapuram?

In Mamallapuram, the guideline values range from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. Venpurusham Village 1st Cross Street's value is below this median.

What is the stamp duty rate for properties in Venpurusham Village 1st Cross Street?

The stamp duty rate for properties in Venpurusham Village 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venpurusham Village 1st Cross Street located?

The Sub Registrar Office for Venpurusham Village 1st Cross Street is located at Thiruchengode - 637 211, Chengalpattu registration zone.