Guideline Value for Venpurusham Village 2nd Cross Street

Venpurusham Village 2nd Cross Street guideline value

The current guideline value of Venpurusham Village 2nd 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 is classified as Residential Class V Type - I.

How the guideline value of Venpurusham Village 2nd Cross Street has changed

The guideline value for Venpurusham Village 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft. This figure remained the same until 2017, when it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions from 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that have 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 2nd Cross Street is below this median.

• Venpurusham Village 1st Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 3rd Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham to Five Radhas Joint Road: Rs 935 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 2nd 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 at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venpurusham Village 2nd Cross Street?

The Sub Registrar Office that covers Venpurusham Village 2nd Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Mamallapuram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

Additionally, the guideline value helps in maintaining transparency in property transactions. It provides a reference point for buyers and sellers, allowing them to understand the expected costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Venpurusham Village 2nd Cross Street?

The current guideline value of Venpurusham Village 2nd 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 is the land classification for this street?

Venpurusham Village 2nd Cross Street is classified as Residential Class V Type - I.

Which Sub Registrar Office covers this area?

The Thirukazhukundram Sub Registrar Office covers Venpurusham Village 2nd Cross Street, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at the rate of 7%.