Guideline Value for Sri Theagarayar Street (Venkateswara Nagar)

Sri Theagarayar Street (Venkateswara Nagar) guideline value

The current guideline value of Sri Theagarayar Street (Venkateswara Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Theagarayar Street (Venkateswara Nagar) has changed

Over the years, the guideline value for Sri Theagarayar Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,700 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. The overall change from 2012 to 2024 is an increase of 8%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. This lack of data means that the guideline value history for Sri Theagarayar Street is primarily based on the revisions from 2012 onwards.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Sri Theagarayar Street.

• Sri Theagaraja Nagar: Rs 2,700 per sq.ft (2024)
• Sri Selva Vinayagar Nagar / Vinayagar Nagar: Rs 2,700 per sq.ft (2024)
• Sri Ram Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Theagarayar Street (Venkateswara Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Sri Theagarayar Street (Venkateswara Nagar)?

The Sub Registrar Office that covers Sri Theagarayar Street (Venkateswara Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the sale. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Theagarayar Street?

The current guideline value of Sri Theagarayar Street (Venkateswara Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Sri Theagarayar Street?

Sri Theagarayar Street is classified as Residential Class I Type - I under the guideline value regulations.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Theagarayar Street (Venkateswara Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sri Theagarayar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.