Guideline Value for Venkatesapuram 6th Street

Venkatesapuram 6th Street guideline value

The current guideline value of Venkatesapuram 6th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Venkatesapuram 6th Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has set the value at Rs 1,700 per sq.ft, reflecting 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 village 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. The median guideline value for the village is Rs 3,900 per sq.ft, which means that the 2024 figure for Venkatesapuram 6th Street is below this median.

• Venkatesapuram 5th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 9th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 6th 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 of these fees to Rs 1,53,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Venkatesapuram 6th Street?

The Sub Registrar Office that covers Venkatesapuram 6th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. 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 critical factor during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all parties are aware of the official valuation.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures transparency in property transactions and helps maintain a standard valuation across the region.

Frequently asked questions

What is the current guideline value of Venkatesapuram 6th Street?

The current guideline value of Venkatesapuram 6th 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 are the guideline values of other streets in Kottivakkam?

Other streets in Kottivakkam have a guideline value of Rs 1,700 per sq.ft as well, including Venkatesapuram 5th Street, Venkatesapuram 7th Street, and others.

What fees are associated with buying property in Venkatesapuram 6th Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkatesapuram 6th Street?

The Adayar Sub Registrar Office covers Venkatesapuram 6th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.