Guideline Value for Venugopal Nagar 2nd Street

Venugopal Nagar 2nd Street guideline value

The current guideline value of Venugopal Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the jurisdiction of the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Venugopal Nagar 2nd Street has changed

The guideline value for Venugopal Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2024 revision, rising to Rs 2,700 per sq.ft, an increase of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. It is important to note that the register has no figures for this street in the years 2023, 2007, 2003, and 2002.

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 for these streets is Rs 2,400 per sq.ft, placing Venugopal Nagar 2nd Street's 2024 figure above that median.

• Venugopal Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 1st Street: 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)
• Venugopal Nagar: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Venugopal Nagar 2nd Street?

The Sub Registrar Office that covers Venugopal Nagar 2nd Street is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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 appropriate stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Venugopal Nagar 2nd Street?

The current guideline value of Venugopal Nagar 2nd 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 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

What is the land classification for Venugopal Nagar 2nd Street?

The land classification for Venugopal Nagar 2nd Street is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Venugopal Nagar 2nd Street?

The Sub Registrar Office for Venugopal Nagar 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 27,00,000, the stamp duty would be calculated at 7% of that amount.