Guideline Value for Venugopal Street

Venugopal Street guideline value

The current guideline value of Venugopal Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Venugopal Street has changed

The guideline value for Venugopal Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent revision in 2024 raised it further to Rs 880 per sq.ft, marking a significant increase of 47% from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 47%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, placing Venugopal Street's 2024 figure below the median.

• V.G.P. Mathina Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• V.G.P. Mathina Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• V.G.P Mathina Nagar Road: Rs 2,700 per sq.ft (2024)
• Venkat Avenue 2nd Street: Rs 1,300 per sq.ft (2024)
• Venkat Avenue 1st Street: Rs 1,300 per sq.ft (2024)
• Venkataraman Street: Rs 1,900 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 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal Street?

Venugopal Street falls under 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 Rajakilpakkam

The guideline value serves as a benchmark for property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venugopal Street?

The current guideline value of Venugopal Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Venugopal Street?

Venugopal Street is classified as Residential Class IV Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 79,200.

Which office handles registrations for Venugopal Street?

The Selaiyur Sub Registrar Office handles registrations for Venugopal Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.