Guideline Value for Venkateshwara Nagar 10th Street

Venkateshwara Nagar 10th Street guideline value

The current guideline value of Venkateshwara Nagar 10th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Venkateshwara Nagar 10th Street has changed

The guideline value for Venkateshwara Nagar 10th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a 19% rise. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, which was a 197% increase. The 2012 revision saw a slight decrease to Rs 3,500 per sq.ft, a drop of 33%. However, the value rebounded to Rs 2,345 per sq.ft in 2017, representing a 49% increase from 2012. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,900 per sq.ft, reflecting an 11% rise.

There are no figures available for Venkateshwara Nagar 10th Street for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 665%.

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. The median value among these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Venkateshwara Nagar 10th Street.

• Venkateshwara Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 16th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar 10th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 10th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the local authorities and is updated periodically to reflect changes in the real estate market.

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

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 10th Street?

The current guideline value of Venkateshwara Nagar 10th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 665% over this period.

What is the stamp duty rate for properties in Venkateshwara Nagar 10th Street?

The stamp duty rate for properties in Venkateshwara Nagar 10th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateshwara Nagar 10th Street?

The Sub Registrar Office for Venkateshwara Nagar 10th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value determined for properties?

The guideline value is determined by local authorities and is updated periodically based on various factors affecting the real estate market. It is used to calculate the stamp duty and registration fees during property transactions.