Guideline Value for Venugopal 2nd Street

Venugopal 2nd Street guideline value

The current guideline value of Venugopal 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class III Type - I.

How the guideline value of Venugopal 2nd Street has changed

The guideline value for Venugopal 2nd Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 167% rise. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, representing a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, and as of the latest 2024 revision, it stands at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 for Venugopal 2nd Street. Overall, from 2007 to 2024, the guideline value has increased by 189%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Venugopal 2nd Street's 2024 figure below this median.

• Venugopal 1st Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar Extn.: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal 2nd Street?

Venugopal 2nd Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Venugopal 2nd Street?

The current guideline value of Venugopal 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 189% over the years.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Venugopal 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Venugopal 2nd Street, located in East Tambaram, Chennai.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with Venugopal 2nd Street's value being below this median.