Guideline Value for Venugopal Street

Venugopal Street guideline value

The current guideline value of Venugopal Street in Chembakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Venugopal Street has changed

The guideline value for Venugopal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. Notably, there are no figures available for the revisions in 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. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that Venugopal Street's current value is below this median.

• Venugopal Swamy Nagar Extn: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar Extn.: Rs 1,900 per sq.ft (2024)
• Venugopal Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal 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, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. 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 Street?

The Sub Registrar Office that covers Venugopal 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, within 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 a crucial factor in the registration process of property transactions in Chembakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value helps ensure that the sale price is in line with the official valuation, providing a standard reference for both buyers and sellers. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Venugopal Street?

The current guideline value of Venugopal Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including a drop to Rs 804 per sq.ft in 2017.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current value of Venugopal Street.

What are the stamp duty and registration fees for properties on Venugopal Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Venugopal Street 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.