Guideline Value for Venugopal Avenue

Venugopal Avenue guideline value

The current guideline value of Venugopal Avenue is Rs 1,980 per sq.ft. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venugopal Avenue has changed

The guideline value for Venugopal Avenue has undergone several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,980 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Venugopal Avenue. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, which means that Venugopal Avenue's 2024 figure is above that median.

• Venkatesha Iyer Street: Rs 1,980 per sq.ft (2024)
• Venkatesan Street: Rs 1,980 per sq.ft (2024)
• Venkatesan Cross St: Rs 1,650 per sq.ft (2024)
• Venkata swami Street: Rs 1,320 per sq.ft (2024)
• Venkata swami 5th cross Street: Rs 1,650 per sq.ft (2024)
• Venkata swami 4th cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. 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 precise calculations.

Which Sub Registrar Office covers Venugopal Avenue?

The Sub Registrar Office that covers Venugopal Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that are applicable when buying or selling a property in the area.

When a property is registered, the guideline value is considered as a benchmark. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Venugopal Avenue?

The current guideline value of Venugopal Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Venugopal Avenue?

Venugopal Avenue is classified as Residential Class I Type - I, indicating that it is primarily designated for residential use.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, with Venugopal Avenue's 2024 figure being above this median.

Where can I find the Sub Registrar Office for Venugopal Avenue?

The Sub Registrar Office for Venugopal Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.