Guideline Value for Venugobal Samy Street @ Venugopal Street

Venugobal Samy Street @ Venugopal Street guideline value

The current guideline value of Venugobal Samy Street @ Venugopal Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Venugobal Samy Street @ Venugopal Street has changed

The guideline value for Venugobal Samy Street has undergone several revisions over the years. The 2012 revision set the value at Rs 6,500 per sq.ft, which was then reduced to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 6,500 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2017 to 2023, the value saw a substantial increase of 49%. However, the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Venugobal Samy Street matches this median.

• Veyalate Flats: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue: Rs 7,100 per sq.ft (2024)
• V.G.N.Avenue Phase 2: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue Phase I: Rs 7,100 per sq.ft (2024)
• V.G.P.Nagar: Rs 7,100 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venugobal Samy Street @ Venugopal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 details.

Which Sub Registrar Office covers Venugobal Samy Street @ Venugopal Street?

The Sub Registrar Office covering Venugobal Samy Street @ Venugopal Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price of the property.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the total costs involved in the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venugobal Samy Street @ Venugopal Street?

The current guideline value of Venugobal Samy Street @ Venugopal Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024. The value was Rs 4,355 per sq.ft in 2017 and Rs 6,500 per sq.ft in 2012.

What is the land classification for Venugobal Samy Street?

Venugobal Samy Street is classified as Residential Special Type - I under the Konnur SRO.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Konnur Sub Registrar Office covers Venugobal Samy Street @ Venugopal Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.