Guideline Value for Venkatesapuram 7th Street

Venkatesapuram 7th Street guideline value

The current guideline value of Venkatesapuram 7th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class V Type - III.

How the guideline value of Venkatesapuram 7th Street has changed

The guideline value for Venkatesapuram 7th Street has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to the current value of Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

Between 2012 and 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 13%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median guideline value in this area is Rs 3,900 per sq.ft, placing Venkatesapuram 7th Street's 2024 figure below that median.

• Venkatesapuram 6th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the 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 to 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 use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Venkatesapuram 7th Street?

The Sub Registrar Office that covers Venkatesapuram 7th 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 an essential factor in the registration process when buying or selling property in Kottivakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatesapuram 7th Street?

The current guideline value of Venkatesapuram 7th 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 are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000 based on the guideline value.

Which office handles the registration for Venkatesapuram 7th Street?

The Adayar Sub Registrar Office handles the registration for Venkatesapuram 7th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which is higher than the current guideline value of Venkatesapuram 7th Street.