Guideline Value for NANJUNDA RAO COLONY (VENKATESA AGRAHARAM)

Nanjunda Rao Colony (Venkatesa Agraharam) guideline value

The current guideline value of Nanjunda Rao Colony (Venkatesa Agraharam) is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class III Type - III.

How the guideline value of Nanjunda Rao Colony (Venkatesa Agraharam) has changed

The guideline value for Nanjunda Rao Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 8,000 per sq.ft, which then decreased to Rs 5,360 per sq.ft in the 2017 revision. Following this, the value increased to Rs 8,000 per sq.ft in 2023, and subsequently rose to Rs 8,800 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current value of Nanjunda Rao Colony.

• Narasingapuram: Rs 8,800 per sq.ft (2024)
• Narayana Chetty Street: Rs 4,900 per sq.ft (2024)
• Narayana Lane: Rs 8,800 per sq.ft (2024)
• Narayanasamy 4th Street: Rs 6,000 per sq.ft (2024)
• Narayanasamy Thottam: Rs 4,900 per sq.ft (2024)
• Narayanasamy Thottam 1st Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanjunda Rao Colony (Venkatesa Agraharam)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nanjunda Rao Colony (Venkatesa Agraharam)?

The Sub Registrar Office that covers Nanjunda Rao Colony (Venkatesa Agraharam) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value for Nanjunda Rao Colony (Venkatesa Agraharam)?

The current guideline value for Nanjunda Rao Colony (Venkatesa Agraharam) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2012 to Rs 5,360 per sq.ft in 2017, then to Rs 8,000 per sq.ft in 2023, and finally to Rs 8,800 per sq.ft in 2024.

What is the land classification for Nanjunda Rao Colony?

The land classification for Nanjunda Rao Colony (Venkatesa Agraharam) is Residential Class III Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated in Nanjunda Rao Colony?

Stamp duty in Nanjunda Rao Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.