Guideline Value for Venkateshwara Nagar 13th Street

Venkateshwara Nagar 13th Street guideline value

The current guideline value of Venkateshwara Nagar 13th 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 13th Street has changed

The guideline value for Venkateshwara Nagar 13th Street has seen several revisions over the years. In 2002, the rate was Rs 510 per sq.ft, which increased to Rs 606 per sq.ft in 2003. The value then rose significantly to Rs 1,800 per sq.ft in 2007, followed by a decrease to Rs 3,500 per sq.ft in 2012. In 2017, it was revised to Rs 2,345 per sq.ft, before increasing to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 3,900 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, there was an increase of 19%. The value surged by 197% from 2003 to 2007. After a 94% increase from 2007 to 2012, there was a decrease of 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and finally, there was an increase of 11% from 2023 to 2024. 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 the same as the guideline value for Venkateshwara Nagar 13th Street.

• Venkateshwara Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 10th 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 13th 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, bringing the total cost for these fees to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwara Nagar 13th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 13th 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 is a crucial factor during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar 13th Street?

The current guideline value for Venkateshwara Nagar 13th 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, reflecting an overall increase of 665% over this period.

What is the land classification for Venkateshwara Nagar 13th Street?

Venkateshwara Nagar 13th Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Venkateshwara Nagar 13th 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 guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,51,000.