Guideline Value for Venture Garden

Venture Garden guideline value

The current guideline value of Venture Garden, located in 44.Ayanambakkam village under the Konnur SRO, is Rs 3,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - V land classification.

How the guideline value of Venture Garden has changed

The guideline value for Venture Garden has seen no revisions listed in the register for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, which remained unchanged in the 2024 revision.

From the 2023 to the 2024 revision, there was a change of +0%, maintaining the value at Rs 3,500 per sq.ft. This consistency reflects stability in the guideline value for this street over the past two years.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Venture Garden is above this median, indicating a higher valuation compared to many other streets in the area.

• VGN Mahalakshmi Nagar Extension-X: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase-XI: Rs 7,463 per sq.ft (2024)
• V.G.N Mahalakshmi Nagar Phase-Xiv: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venture Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venture Garden?

The Sub Registrar Office that covers Venture Garden is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find more information by visiting find your SRO.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value plays a crucial role during property registration in 44.Ayanambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations.

When a property transaction occurs, the guideline value is assessed to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venture Garden?

The current guideline value of Venture Garden is Rs 3,500 per sq.ft, effective from 1 July 2024.

Have there been any changes in the guideline value recently?

Yes, the guideline value for Venture Garden remained unchanged from the 2023 revision to the 2024 revision, with a consistent value of Rs 3,500 per sq.ft.

What is the land classification for Venture Garden?

Venture Garden is classified under Residential Class I Type - V, indicating its suitability for residential development.

How is the stamp duty calculated for properties in Venture Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 35,00,000 would incur a stamp duty of Rs 2,45,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Venture Garden?

The Sub Registrar Office for Venture Garden is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.