Guideline Value for Venu Reddy Street

Venu Reddy Street guideline value

The current guideline value of Venu Reddy Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venu Reddy Street has changed

The guideline value for Venu Reddy Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and most recently, it has risen to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Venu Reddy Street's 2024 figure below that median.

• V.G.N Milano Square: Rs 2,200 per sq.ft (2024)
• Venkatesan Street: Rs 1,600 per sq.ft (2024)
• Venkatasamy Street: Rs 2,400 per sq.ft (2024)
• Vembuliamman koil Street: Rs 950 per sq.ft (2024)
• Velmurugan street: Rs 950 per sq.ft (2024)
• Vignesh Avenue: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venu Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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 Venu Reddy Street?

The Sub Registrar Office covering Venu Reddy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will assess the guideline value to ensure that the correct fees are collected. This ensures transparency and adherence to the legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Venu Reddy Street?

The current guideline value of Venu Reddy Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Venu Reddy Street?

Venu Reddy Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Venu Reddy Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.