Guideline Value for Venkatesapuram 5th Cross Street

Venkatesapuram 5th Cross Street guideline value

The current guideline value of Venkatesapuram 5th Cross 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 is classified as Residential Class V Type - III.

How the guideline value of Venkatesapuram 5th Cross Street has changed

Over the years, the guideline value of Venkatesapuram 5th Cross Street has seen significant changes. In 2002, the guideline value was Rs 257 per sq.ft, which increased to Rs 306 per sq.ft in 2003. The value then rose dramatically by 227% to Rs 1,000 per sq.ft in 2007. Following this, the value increased to Rs 1,500 per sq.ft in 2012, before dropping by 33% to Rs 1,005 per sq.ft in 2017. The value saw a substantial increase of 49% to Rs 1,500 per sq.ft in 2023, and finally, it rose by 13% to the current figure of Rs 1,700 per sq.ft in 2024.

There are no figures available for the revisions in the years not listed above. The overall increase from 2002 to 2024 is 561%.

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 of Venkatesapuram 5th Cross Street is below this median.

• Venkatesapuram 5th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 3rd Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 5th Cross 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 is charged at 7%, amounting to Rs 1,19,000, and the registration fee at 2% totals Rs 34,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesapuram 5th Cross Street?

The Venkatesapuram 5th Cross Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value helps establish a standard for valuation, providing clarity and consistency in the registration process. Buyers and sellers should be aware of the current guideline value to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Venkatesapuram 5th Cross Street?

The current guideline value of Venkatesapuram 5th Cross 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 significantly from Rs 257 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 561% over this period.

What is the stamp duty rate for properties in Venkatesapuram 5th Cross Street?

The stamp duty rate for properties in Venkatesapuram 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

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 registration fee calculated for properties in Kottivakkam?

The registration fee for properties in Kottivakkam is calculated at 2% of the guideline value or the sale price, whichever is higher, in addition to the stamp duty.