Guideline Value for Venugopal Nagar 1st Street

Venugopal Nagar 1st Street guideline value

The current guideline value of Venugopal Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

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. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, followed by a further rise to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been an 8% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, making the current guideline value of Venugopal Nagar 1st Street above this median.

• Venugopal Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Venkteswara Street (Ward No.9): Rs 2,000 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venugopal Nagar 1st Street?

The Sub Registrar Office that covers Venugopal Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps in determining the minimum value at which the property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the other streets in Thirumullaivoyal with the same guideline value?

Other streets in Thirumullaivoyal that have the same guideline value of Rs 2,700 per sq.ft in 2024 include Venugopal Nagar 2nd Cross Street, Venugopal Nagar 2nd Street, Venugopal Nagar, Venugopal Nagar 3rd Street, and Venugopal Nagar Main Road.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft, which means that the guideline value of Venugopal Nagar 1st Street is above this median.

Where can I find the Sub Registrar Office for Venugopal Nagar 1st Street?

The Sub Registrar Office for Venugopal Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.