Guideline Value for Venkateshwara Nagar 16th Street

Venkateshwara Nagar 16th Street guideline value

The current guideline value of Venkateshwara Nagar 16th 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 16th Street has changed

The guideline value for Venkateshwara Nagar 16th Street has seen several revisions over the years. In 2002, the guideline value was Rs 510 per sq.ft. This figure increased to Rs 606 per sq.ft in 2003, marking a rise of 19%. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, which was a substantial increase of 197%. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 94% increase from the previous revision. However, it then saw a decrease of 33% to Rs 2,345 per sq.ft in 2017.

In 2023, the guideline value increased to Rs 3,500 per sq.ft, and then it rose again to the current value of Rs 3,900 per sq.ft in 2024, which is an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 665%. There are no figures available for revisions in years not listed.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values 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 matches the current guideline value of Venkateshwara Nagar 16th Street.

• Venkateshwara Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 18th Cross Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 13th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 16th 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 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. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkateshwara Nagar 16th Street?

The Venkateshwara Nagar 16th Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, in the Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential costs in the registration process.

It is important for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. The guideline value serves as a reference point for both parties during negotiations and helps ensure transparency in property dealings.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 16th Street?

The current guideline value of Venkateshwara Nagar 16th 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 significantly 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Venkateshwara Nagar 16th Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles property registrations for Venkateshwara Nagar 16th Street.

What is the land classification for Venkateshwara Nagar 16th Street?

The land classification for Venkateshwara Nagar 16th Street is Residential Class II Type - I.