Guideline Value for VENKATESWARA NAGAR 20TH STREET

Venkateswara Nagar 20th Street guideline value

The current guideline value for Venkateswara Nagar 20th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar 20th Street has changed

As per the guideline value register, there are no figures available for Venkateswara Nagar 20th Street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 3,500 per sq.ft in 2023, which increased to Rs 3,900 per sq.ft in 2024, marking an increase of 11%.

The 2024 revision brings the guideline value of Venkateswara Nagar 20th Street in line with the median value for Kottivakkam, which is also Rs 3,900 per sq.ft. This reflects a significant change from the previous year, indicating a notable adjustment in the property valuation for this area.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the current guideline value for Venkateswara Nagar 20th Street.

• Venkateswara Garden: Rs 3,900 per sq.ft (2024)
• Venkateswara Colony 9th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 8th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 7th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 6th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 20th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkateswara Nagar 20th Street?

The Venkateswara Nagar 20th Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 20th Street?

The current guideline value of Venkateswara Nagar 20th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, which is an increase of 11%.

What are the other streets in Kottivakkam with guideline values?

Other streets in Kottivakkam include Venkateswara Garden at Rs 3,900 per sq.ft, and several streets in Venkateswara Colony at Rs 3,300 per sq.ft.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.