Guideline Value for Venkatesapuram 5th Street

Venkatesapuram 5th Street guideline value

The current guideline value of Venkatesapuram 5th 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 Street has changed

The guideline value for Venkatesapuram 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then revised to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, representing a 13% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Kottivakkam

Kottivakkam has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft, and the median value is Rs 3,900 per sq.ft. The guideline value for Venkatesapuram 5th Street is below this median.

• Venkatesapuram 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 3rd Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 5th 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, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram 5th Street?

The Venkatesapuram 5th Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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 determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to consider this value in negotiations, as it can influence the final sale price and the associated costs for registration.

Frequently asked questions

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

The current guideline value of Venkatesapuram 5th 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 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 for Venkatesapuram 5th Street?

Venkatesapuram 5th Street is classified as Residential Class V Type - III.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Adayar Sub Registrar Office located?

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