Guideline Value for Venkateshwara Nagar 17th Street

Venkateshwara Nagar 17th Street guideline value

The current guideline value for Venkateshwara Nagar 17th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar 17th Street has changed

The guideline value for Venkateshwara Nagar 17th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 3,900 per sq.ft. Venkateshwara Nagar 17th Street's 2024 figure aligns with this median.

• Venkateshwara Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 18th Cross Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 14th 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 17th 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, totaling Rs 3,51,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkateshwara Nagar 17th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 17th 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 in property transactions, 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 stamp duty and registration fees, ensuring that all transactions adhere to the legal requirements set by the government.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 17th Street?

The current guideline value of Venkateshwara Nagar 17th 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 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, marking an 11% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Venkateshwara Nagar 17th Street?

Venkateshwara Nagar 17th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.

Which office handles registrations for Venkateshwara Nagar 17th Street?

The Adayar Sub Registrar Office handles registrations for Venkateshwara Nagar 17th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.