Guideline Value for Venugopal Maistry Street

Venugopal Maistry Street guideline value

The current guideline value of Venugopal Maistry Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the jurisdiction of the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venugopal Maistry Street has changed

Over the years, the guideline value of Venugopal Maistry Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 350%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the 2023 figure.

It is important to note that the register has no figure for Venugopal Maistry Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Venugopal Maistry Street.

• Venkatesapuram colony South Street: Rs 4,900 per sq.ft (2024)
• Venkatesa puram colony North Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Extension: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total fees would amount to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venugopal Maistry Street?

The Sub Registrar Office that covers Venugopal Maistry Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value to avoid any discrepancies during the registration process. The guideline value helps in establishing a fair price for the property, facilitating a smoother transaction.

Frequently asked questions

What is the current guideline value of Venugopal Maistry Street?

The current guideline value of Venugopal Maistry Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 390% over the years.

What is the land classification for Venugopal Maistry Street?

Venugopal Maistry Street is classified as Residential Class I Type - III under the current guidelines.

Where can I find the registration office for Venugopal Maistry Street?

The registration office for Venugopal Maistry Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at a rate of 7%.