Guideline Value for Venkateshwara Nagar 15th Street

Venkateshwara Nagar 15th Street guideline value

The current guideline value of Venkateshwara Nagar 15th 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 15th Street has changed

The guideline value for Venkateshwara Nagar 15th Street has seen several revisions over the years. In 2002, the value 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 another increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The subsequent revisions saw the value rise again to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 665%. The register does not contain figures for revisions in years not listed, ensuring clarity in the documented changes.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a guideline value for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Venkateshwara Nagar 15th Street.

• Venkateshwara Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 18th Cross Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 12th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 15th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar 15th Street?

The Adayar Sub Registrar Office covers Venkateshwara Nagar 15th Street, 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 when buying or selling property in Kottivakkam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction is officially documented at a recognized value.

When a buyer and seller agree on a sale price, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 15th Street?

The current guideline value of Venkateshwara Nagar 15th 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 the years.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, with stamp duty at Rs 2,73,000 and registration fee at Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Venkateshwara Nagar 15th Street?

The Adayar Sub Registrar Office handles registrations for Venkateshwara Nagar 15th 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 15th Street.