Guideline Value for VENKATAKRISHNA NAGAR III RD STREET

Venkatakrishna Nagar III Rd Street guideline value

The current guideline value for Venkatakrishna Nagar III Rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Venkatakrishna Nagar III Rd Street has changed

The guideline value for Venkatakrishna Nagar III Rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 850 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. Following this decline, the value rose to Rs 4,000 per sq.ft in 2023, and it was further increased to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 reflects a substantial increase of 418% in the guideline value, highlighting the fluctuations over the years.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Venkatakrishna Nagar III Rd Street's 2024 guideline value of Rs 4,400 per sq.ft is below this median.

• Venkatakrishna Nagar Iind Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Ivth Street: Rs 4,400 per sq.ft (2024)
• Venkata Perumal Kulakarai Street: Rs 3,800 per sq.ft (2024)
• Venkata Perumal Street: Rs 3,300 per sq.ft (2024)
• Veena Garden: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatakrishna Nagar III Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatakrishna Nagar III Rd Street?

The Sub Registrar Office that covers Venkatakrishna Nagar III Rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your specific SRO, you can visit this link: find your SRO.

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

When buying or selling property in Arumbakkam, the guideline value plays a crucial role in determining the registration fees and stamp duties. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives appropriate revenue from property transactions.

Additionally, the guideline value helps in assessing the fair value of properties in the area, providing buyers and sellers with a reference point during negotiations. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Venkatakrishna Nagar III Rd Street?

The current guideline value for Venkatakrishna Nagar III Rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 418% over the years.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles property registrations for Venkatakrishna Nagar III Rd Street?

The Kodambakkam Sub Registrar Office handles property registrations for Venkatakrishna Nagar III Rd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It also acts as a reference point for the fair valuation of properties in the area.