Guideline Value for Venkatesapuram 4th Street

Venkatesapuram 4th Street guideline value

The current guideline value of Venkatesapuram 4th 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 4th Street has changed

Over the years, the guideline value for Venkatesapuram 4th Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 13%.

There are no figures available for the years 2002, 2003, and 2007 for Venkatesapuram 4th Street. The 2017 revision marked a substantial increase of 49% from the 2012 figure, while the 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Venkatesapuram 4th Street's current value below that median.

• Venkatesapuram 3rd 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 2nd Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatesapuram 4th Street?

The Sub Registrar Office that covers Venkatesapuram 4th Street is 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 plays a crucial role during property transactions in Kottivakkam. It is used as a benchmark to determine the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations when finalizing property deals.

When registering a property, the guideline value is essential for calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkatesapuram 4th Street?

The current guideline value of Venkatesapuram 4th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the range of guideline values in Kottivakkam?

The guideline values in Kottivakkam range from Rs 1,700 to Rs 8,500 per sq.ft as of 2024, with a median value of Rs 3,900 per sq.ft.

Where can I find the Sub Registrar Office for Venkatesapuram 4th Street?

The Sub Registrar Office for Venkatesapuram 4th Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,700 per sq.ft would incur a total fee of Rs 1,53,000.