Guideline Value for Venkateshwara Nagar 14th Street

Venkateshwara Nagar 14th Street guideline value

The current guideline value of Venkateshwara Nagar 14th 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 14th Street has changed

The guideline value for Venkateshwara Nagar 14th Street has seen several revisions over the years. The earliest recorded figure is from 2002, when the 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, which is a change of +197%. Following this, the value increased to Rs 3,500 per sq.ft in 2012, reflecting a +94% change. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a change of -33%. The value then increased to Rs 3,500 per sq.ft in 2023, which is a change of +49%. The current guideline value of Rs 3,900 per sq.ft, effective from 1 July 2024, represents 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 this area is Rs 3,900 per sq.ft, which is equal to the current value for Venkateshwara Nagar 14th Street.

• Venkateshwara Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 11th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 14th 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, bringing the total to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Nagar 14th Street?

The Venkateshwara Nagar 14th Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it is essential for buyers and sellers to be aware of these values when engaging in real estate activities.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 14th Street?

The current guideline value of Venkateshwara Nagar 14th 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 the years.

What is the land classification for Venkateshwara Nagar 14th Street?

Venkateshwara Nagar 14th Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office covering Venkateshwara Nagar 14th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottivakkam?

Stamp duty for properties in Kottivakkam is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.