Guideline Value for Venugopal Nagar 1st Street

Venugopal Nagar 1st Street guideline value

The current guideline value of Venugopal Nagar 1st Street is Rs 1,300 per sq.ft. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venugopal Nagar 1st Street has changed

The guideline value for Venugopal Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023, before rising to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Venugopal Nagar 1st Street's 2024 guideline value of Rs 1,300 per sq.ft is below this median.

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

Stamp duty and registration fee for property in Venugopal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to 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, bringing the total to 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal Nagar 1st Street?

The Sub Registrar Office that covers Venugopal Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 aspect of property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is considered for calculating stamp duty and registration fees.

It is crucial to ensure that the sale price of the property is at least equal to the guideline value to avoid any legal complications during registration. Buyers and sellers should be aware of the current guideline values to make informed decisions.

Frequently asked questions

What is the current guideline value of Venugopal Nagar 1st Street?

The current guideline value of Venugopal Nagar 1st Street is Rs 1,300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, while Venugopal Nagar 1st Street's current value is below this median.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.