Guideline Value for Venkatesapuram 3rd Street

Venkatesapuram 3rd Street guideline value

The current guideline value of Venkatesapuram 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, and it falls under the Residential Class V Type - III land classification.

How the guideline value of Venkatesapuram 3rd Street has changed

The guideline value for Venkatesapuram 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 13%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Venkatesapuram 3rd Street is below this median.

• Venkatesapuram 4th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram 3rd Street?

The Venkatesapuram 3rd Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value will be used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesapuram 3rd Street?

The current guideline value of Venkatesapuram 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Venkatesapuram 3rd Street?

Venkatesapuram 3rd Street is classified as Residential Class V Type - III.

Where can I find the Adayar Sub Registrar Office?

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 Venkatesapuram 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.