Guideline Value for Venugopal Street

Venugopal Street guideline value

The current guideline value of Venugopal Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Venugopal Street has changed

The guideline value for Venugopal Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. With the 2024 revision, it increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous revision.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only recorded values are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Venugopal Street's 2024 figure below that median.

• VenkatesaPerumal Street: Rs 1,650 per sq.ft (2024)
• Venkatesan Nagar: Rs 1,650 per sq.ft (2024)
• Vidhya Nagar: Rs 2,750 per sq.ft (2024)
• Vidhyasurabi School Street: Rs 2,200 per sq.ft (2024)
• Vignesh Avenue, Ramurthy Nagar: Rs 2,750 per sq.ft (2024)
• Venkataswamy Street: Rs 1,650 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Venugopal Street?

Venugopal Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Venugopal Street?

The current guideline value of Venugopal Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a change of +64%. There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venugopal Street located?

The Velacheri Sub Registrar Office, which covers Venugopal Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.