Guideline Value for VENKATESAPURAM COLONY (KR)

Venkatesapuram Colony (Kr) guideline value

The current guideline value of Venkatesapuram Colony (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Venkatesapuram Colony (Kr) has changed

The guideline value for Venkatesapuram Colony (Kr) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 600 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 402 per sq.ft, marking a decline of 33%. The following revision in 2023 saw a significant increase to Rs 600 per sq.ft, and the most recent revision in 2024 raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which means that Venkatesapuram Colony (Kr) is below this median.

• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)
• Vethanayagam Street(Ward -8): Rs 1,760 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram Colony (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total charges to Rs 59,400. It is important to note that 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 Venkatesapuram Colony (Kr)?

The Sub Registrar Office that covers Venkatesapuram Colony (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process for property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Venkatesapuram Colony (Kr)?

The current guideline value of Venkatesapuram Colony (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Venkatesapuram Colony (Kr)?

Venkatesapuram Colony (Kr) is classified as Residential Class I Type - III under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Venkatesapuram Colony (Kr)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for property in Venkatesapuram Colony (Kr)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.