Guideline Value for venus avenue

Venus Avenue guideline value

The current guideline value of Venus Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thirumazhisai village, under the Poonamallee SRO, and is classified as Residential Special Type - I.

How the guideline value of Venus Avenue has changed

The guideline value for Venus Avenue has seen several revisions over the years. In 2002, the value was Rs 70 per sq.ft, which increased to Rs 84 per sq.ft in 2003. Following this, there was a significant rise to Rs 150 per sq.ft in 2007, and then a substantial jump to Rs 1,000 per sq.ft in 2012. However, the value decreased to Rs 670 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,000 per sq.ft, and the most recent 2024 revision set it at Rs 1,100 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +20%. The rise from 2003 to 2007 was +79%, followed by a dramatic +567% increase from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. The jump from 2017 to 2023 was +49%, and finally, the increase from 2023 to 2024 was +10%. Overall, from 2002 to 2024, the guideline value has risen by +1,471%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Venus Avenue's 2024 figure below that median.

• Venus nagar: Rs 1,100 per sq.ft (2024)
• Venus nagar verivakkam: Rs 1,100 per sq.ft (2024)
• Venkateswara nagar: Rs 1,100 per sq.ft (2024)
• Veetrirundha perumal koil street: Rs 1,100 per sq.ft (2024)
• Vasa nagar: Rs 1,100 per sq.ft (2024)
• Vaithee Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venus Avenue?

The Sub Registrar Office covering Venus Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property registration in Thirumazhisai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate fees are assessed based on the established rates. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Venus Avenue?

The current guideline value of Venus Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Venus Avenue has changed significantly from Rs 70 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +1,471% over the years.

What is the median guideline value in Thirumazhisai?

The median guideline value for streets in Thirumazhisai is Rs 1,320 per sq.ft, with Venus Avenue's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Venus Avenue?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Venus Avenue located?

The Poonamallee Sub Registrar Office, which covers Venus Avenue, is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.