Guideline Value for VENKATAKRISHNA NAGAR IVTH STREET

Venkatakrishna Nagar Ivth Street guideline value

The current guideline value for Venkatakrishna Nagar Ivth 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 Ivth Street has changed

The guideline value for Venkatakrishna Nagar Ivth Street has undergone several revisions over the years. The earliest recorded value is from 2007, which was Rs 850 per sq.ft. This value saw a significant increase to Rs 4,000 per sq.ft in 2012, marking a rise of 371%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 418%.

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. The median value is Rs 6,000 per sq.ft, which means Venkatakrishna Nagar Ivth Street's 2024 figure is below that median.

• Venkatakrishna Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Iind Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar III Rd 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 Ivth Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatakrishna Nagar Ivth Street?

The Sub Registrar Office that covers Venkatakrishna Nagar Ivth Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatakrishna Nagar Ivth Street?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 850 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 418%.

What are the stamp duty and registration fees for property in Venkatakrishna Nagar Ivth Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Venkatakrishna Nagar Ivth Street?

The Kodambakkam Sub Registrar Office covers Venkatakrishna Nagar Ivth Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Venkatakrishna Nagar Ivth Street?

Venkatakrishna Nagar Ivth Street is classified as Residential Class IV Type - II according to the guideline value register.