Guideline Value for Venkatesapuram Street

Venkatesapuram Street guideline value

The current guideline value of Venkatesapuram 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 Street has changed

The guideline value for Venkatesapuram Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 257 per sq.ft. It increased to Rs 306 per sq.ft in 2003, marking a 19% rise. The subsequent revision in 2007 set the value at Rs 1,000 per sq.ft, reflecting a significant increase of 227%. In 2012, the value remained at Rs 1,500 per sq.ft, which was a decrease of 33% compared to the previous revision. The 2017 revision marked another increase to Rs 1,005 per sq.ft, and this was followed by a substantial rise to Rs 1,500 per sq.ft in 2023, an increase of 49%.

The most recent revision in 2024 established the guideline value at Rs 1,700 per sq.ft, representing a 13% increase from the previous year. There are no figures available for revisions in years not listed above.

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. Venkatesapuram Street's 2024 figure is below this median.

• Venkatesapuram 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 8th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 7th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 6th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 5th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram 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 at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesapuram Street?

The Sub Registrar Office that covers Venkatesapuram Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. 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 crucial factor in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer must pay the 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.

Frequently asked questions

What is the current guideline value of Venkatesapuram Street?

The current guideline value of Venkatesapuram 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 the years.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, while Venkatesapuram Street's 2024 value is below this median.

What are the stamp duty and registration fees for a property in Venkatesapuram Street?

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 can I find the Sub Registrar Office for Venkatesapuram Street?

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