Guideline Value for Venkateshwara Nagar 11th Street

Venkateshwara Nagar 11th Street guideline value

The current guideline value of Venkateshwara Nagar 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar 11th Street has changed

The guideline value for Venkateshwara Nagar 11th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a change of +19%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of +197%. Following this, the guideline value decreased to Rs 3,500 per sq.ft in 2012, resulting in a decline of -33%.

In the subsequent revisions, the guideline value increased to Rs 2,345 per sq.ft in 2017, showing an increase of +49%. The most recent revision before the current one was in 2023, where the value was Rs 3,500 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, which is an increase of +11% from the previous year.

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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Venkateshwara Nagar 11th Street.

• Venkateshwara Nagar 10th 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 11th 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. Together, the total fees would amount to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Venkateshwara Nagar 11th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 11th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees are calculated fairly based on the property's worth.

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 transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 11th Street?

The current guideline value of Venkateshwara Nagar 11th 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 increased from Rs 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of +665% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,51,000, which includes stamp duty and registration fees.

Which office handles the registration for Venkateshwara Nagar 11th Street?

The Adayar Sub Registrar Office handles the registration for Venkateshwara Nagar 11th 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 for 2024 is Rs 3,900 per sq.ft, which is the same as the guideline value for Venkateshwara Nagar 11th Street.