Guideline Value for VEENUS COLONY PHASE -III

Veenus Colony Phase -III guideline value

The current guideline value of Veenus Colony Phase -III is Rs 600 per sq.ft. It is located in Kolathur village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Veenus Colony Phase -III has changed

Over the years, the guideline value for Veenus Colony Phase -III has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 402 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision maintained the value at Rs 600 per sq.ft, which has now been carried over to the 2024 revision without any change.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the values from 2012 to 2024, there has been no change, with the current value still at Rs 600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Veenus Colony Phase -III aligns with this median.

• Vasantham Nagar: Rs 600 per sq.ft (2024)
• Vaiguntha Nagar: Rs 600 per sq.ft (2024)
• Thirumal Puram: Rs 600 per sq.ft (2024)
• Swami Nagar: Rs 600 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 600 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Veenus Colony Phase -III

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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.

Which Sub Registrar Office covers Veenus Colony Phase -III?

The Veenus Colony Phase -III is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Kolathur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. This ensures that the fees are calculated based on a standardized value, which reflects the market conditions for properties in the area.

When you register a property, the guideline value is crucial as it influences the total cost involved in the transaction. Buyers should be aware that the registration office will charge fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Veenus Colony Phase -III?

The current guideline value of Veenus Colony Phase -III is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions: it was Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and then returned to Rs 600 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Veenus Colony Phase -III?

Veenus Colony Phase -III is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Veenus Colony Phase -III?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 6,00,000, the total stamp duty and registration fees would amount to Rs 54,000.