Guideline Value for Vengeeswarar Nagar 3rd Street

Vengeeswarar Nagar 3rd Street guideline value

The current guideline value of Vengeeswarar Nagar 3rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class II Type - III.

How the guideline value of Vengeeswarar Nagar 3rd Street has changed

The guideline value for Vengeeswarar Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 355%. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The guideline value then rose sharply to Rs 5,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 6,000 per sq.ft, an increase of 9% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 396%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Vengeeswarar Nagar 3rd Street's 2024 guideline value of Rs 6,000 per sq.ft is above this median.

• Vengeeswarar Nagar 3rd Cross Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 2nd Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 2nd Cross Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 1st Main Road: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 1st Cross Street: Rs 6,000 per sq.ft (2024)
• Venkatachalam Street Block 82 (JPT): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vengeeswarar Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total charges to Rs 5,40,000. Please note that 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 Vengeeswarar Nagar 3rd Street?

The Vengeeswarar Nagar 3rd Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vengeeswarar Nagar 3rd Street?

The current guideline value of Vengeeswarar Nagar 3rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 396% over the years.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000, and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which Sub Registrar Office covers Vengeeswarar Nagar 3rd Street?

The Ashok Nagar Sub Registrar Office covers Vengeeswarar Nagar 3rd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Vengeeswarar Nagar 3rd Street?

The land classification for Vengeeswarar Nagar 3rd Street is Residential Class II Type - III.