Guideline Value for Venkateshwara Colony 4th Street

Venkateshwara Colony 4th Street guideline value

The current guideline value of Venkateshwara Colony 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Venkateshwara Colony 4th Street has changed

The guideline value for Venkateshwara Colony 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, comparing the 2012 figure to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which is the same as the current value for Venkateshwara Colony 4th Street.

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

Stamp duty and registration fee for property in Venkateshwara Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Colony 4th Street?

The Sub Registrar Office that covers Venkateshwara Colony 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a crucial factor in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must refer to the latest guideline value applicable to their property to ensure compliance with the registration requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the duties owed to the government. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateshwara Colony 4th Street?

The current guideline value of Venkateshwara Colony 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024.

What is the land classification of Venkateshwara Colony 4th Street?

Venkateshwara Colony 4th Street is classified as Residential Class I Type - I under the Madhavaram SRO.

What are the other streets in Kodungaiyur with the same guideline value?

Other streets in Kodungaiyur with the same guideline value of Rs 2,700 per sq.ft include Venkateshwara Colony 1st, 2nd, 3rd, 5th, 6th, and 7th Streets.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.