Guideline Value for Venugopal Avenue

Venugopal Avenue guideline value

The current guideline value of Venugopal Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Venugopal Avenue has changed

The guideline value for Venugopal Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 1,558 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007, marking a rise of 157%. By 2012, the value had risen to Rs 10,000 per sq.ft, reflecting a substantial increase of 150% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The value then surged to Rs 10,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Venugopal Avenue for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 606%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Venugopal Avenue's 2024 figure above this median.

• Venugopal Avenue 1st Lane: Rs 11,000 per sq.ft (2024)
• Venugopal Avenue 2nd Lane: Rs 11,000 per sq.ft (2024)
• Venugopal Avenue Main Road: Rs 11,000 per sq.ft (2024)
• Venugopal Pillai street: Rs 7,100 per sq.ft (2024)
• Venkatcchala Naicken street: Rs 3,900 per sq.ft (2024)
• Venkatcahla Pillai street: Rs 3,900 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 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. It is important to note that the 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 Venugopal Avenue?

The Sub Registrar Office that covers Venugopal Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Egmore. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value ensures that property transactions are documented at a standardized rate set by the government.

When a buyer or seller engages in a property transaction, the registration office refers to the guideline value to assess the appropriate fees. This process helps maintain transparency and fairness in property dealings, ensuring that all parties are aware of the costs involved.

Frequently asked questions

What is the current guideline value of Venugopal Avenue?

The current guideline value of Venugopal Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,558 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 606% over this period.

What is the land classification of Venugopal Avenue?

Venugopal Avenue is classified as Residential Class I Type - II under the Periamet SRO.

Where is the Periamet Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Venugopal Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 11,000 per sq.ft would incur a total guideline value of Rs 1,10,00,000, leading to a stamp duty of Rs 7,70,000.