Guideline Value for Venu reddy Street

Venu reddy Street guideline value

The current guideline value of Venu reddy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Alandur village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Venu reddy Street has changed

The guideline value for Venu reddy Street has seen significant changes over the years. In the 2002 revision, the value was Rs 794 per sq.ft, which increased to Rs 1,500 per sq.ft in 2003, marking an increase of 89%. The 2007 revision saw a further increase to Rs 3,249 per sq.ft, which was a rise of 117%. Following this, the value decreased to Rs 5,000 per sq.ft in 2012, a drop of 33%. The 2017 revision recorded a value of Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value among these streets is Rs 5,000 per sq.ft, placing Venu reddy Street above this median.

• Vempuli Amman Koil Street: Rs 5,000 per sq.ft (2024)
• Vembuli Subethar Street: Rs 4,400 per sq.ft (2024)
• Yegambara dabether Street: Rs 5,000 per sq.ft (2024)
• U.V. Samynathan Street: Rs 5,000 per sq.ft (2024)
• Thadikkara Swamy Street: Rs 5,000 per sq.ft (2024)
• Subba Colony (Subba Reddy Colony): Rs 5,000 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 rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Venu reddy Street?

The Sub Registrar Office that covers Venu reddy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is essential for determining the stamp duty and registration fees when buying or selling property in Alandur. It serves as a benchmark for the value of the property and ensures that the government receives the appropriate fees based on the property's worth.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, depending on which is higher. This ensures that all transactions are recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Venu reddy Street?

The current guideline value of Venu reddy Street is Rs 5,500 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 794 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 593% over the years.

What is the registration office for Venu reddy Street?

The registration office for Venu reddy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Venu reddy Street?

Stamp duty for properties in Venu reddy Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

What are the guideline values of other streets in Alandur?

Other streets in Alandur have varying guideline values, with rates ranging from Rs 3,900 to Rs 11,000 per sq.ft. Venu reddy Street's value of Rs 5,500 per sq.ft is above the median value of Rs 5,000 per sq.ft in the area.