Guideline Value for Venkateshwara Nagar 12th Street

Venkateshwara Nagar 12th Street guideline value

The current guideline value of Venkateshwara Nagar 12th 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 is classified as Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar 12th Street has changed

The guideline value for Venkateshwara Nagar 12th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 510 per sq.ft, which increased to Rs 606 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 1,800 per sq.ft in 2007, then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 and finally reached Rs 3,900 per sq.ft in the 2024 revision.

Between these revisions, the changes were notable. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. The increase from 2007 to 2012 was 94%, and from 2003 to 2007, the rise was 197%. The change from 2002 to 2003 was 19%. 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 guideline value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Venkateshwara Nagar 12th Street.

• Venkateshwara Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 10th 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 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Therefore, the total cost for these fees would be 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 use our stamp duty and registration fee calculator for more information on fees applicable to your property.

Which Sub Registrar Office covers Venkateshwara Nagar 12th Street?

The Venkateshwara Nagar 12th Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more details, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must take this value into account when negotiating the sale price of a property.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 12th Street?

The current guideline value of Venkateshwara Nagar 12th 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 seen various revisions, starting from Rs 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 665% over this period.

What is the land classification for Venkateshwara Nagar 12th Street?

Venkateshwara Nagar 12th Street is classified as Residential Class II Type - I.

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

The Adayar Sub Registrar Office, which covers Venkateshwara Nagar 12th Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.