Guideline Value for West park Street (Venkatapuram)

West park Street (Venkatapuram) guideline value

The current guideline value of West park Street (Venkatapuram) is Rs 5,100 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of West park Street (Venkatapuram) has changed

The guideline value for West park Street (Venkatapuram) has undergone several revisions over the years. The 2012 revision set the value at Rs 4,700 per sq.ft, which was then reduced to Rs 3,149 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,700 per sq.ft in 2023, and finally rose to Rs 5,100 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 saw an increase of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. West park Street (Venkatapuram) is positioned above this median.

• V.O.C Street (Venkatapuram): Rs 3,600 per sq.ft (2024)
• V.O.C. Street (M.K.B. nagar): Rs 2,200 per sq.ft (2024)
• Vivek Nagar Varathammal Street: Rs 5,100 per sq.ft (2024)
• Vivek Nagar Ramasamy Mudali Street: Rs 5,100 per sq.ft (2024)
• Vivek Nagar: Rs 5,100 per sq.ft (2024)
• Vinobaji Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in West park Street (Venkatapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,100 per sq.ft, the total guideline value amounts to Rs 51,00,000. The stamp duty at 7% would be Rs 3,57,000, and the registration fee at 2% would be Rs 1,02,000, bringing the total fees together to Rs 4,59,000. 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 West park Street (Venkatapuram)?

The Sub Registrar Office covering West park Street (Venkatapuram) 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ambattur. It determines the minimum value at which a property can be registered, and both the stamp duty and registration fees are calculated based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of West park Street (Venkatapuram)?

The current guideline value of West park Street (Venkatapuram) is Rs 5,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2012 to Rs 3,149 per sq.ft in 2017, then to Rs 4,700 per sq.ft in 2023, and finally to Rs 5,100 per sq.ft in 2024.

What is the land classification for West park Street (Venkatapuram)?

West park Street (Venkatapuram) is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 51,00,000, the stamp duty would be Rs 3,57,000, and the registration fee would be Rs 1,02,000, totaling Rs 4,59,000.

Where is the Sub Registrar Office for West park Street (Venkatapuram)?

The Sub Registrar Office for West park Street (Venkatapuram) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.