Guideline Value for Venkateshwara Colony 6th Street

Venkateshwara Colony 6th Street guideline value

The current guideline value of Venkateshwara Colony 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateshwara Colony 6th Street has changed

In 2012, the guideline value for Venkateshwara Colony 6th Street was Rs 2,500 per sq.ft. This figure was revised to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The most significant jump occurred between 2017 and 2023, where the value increased by 49%. This demonstrates the fluctuations in the guideline value over the years.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, which matches the current guideline value of Venkateshwara Colony 6th Street.

• Venkateshwara Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Colony 4th Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Colony 9th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Colony 6th 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 fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkateshwara Colony 6th Street?

The Venkateshwara Colony 6th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Kodungaiyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Venkateshwara Colony 6th Street?

The current guideline value of Venkateshwara Colony 6th 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 seen several changes, increasing from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then rising to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,700 per sq.ft in 2024.

What is the land classification for Venkateshwara Colony 6th Street?

Venkateshwara Colony 6th Street is classified as Residential Class I Type - I.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Venkateshwara Colony 6th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.