Guideline Value for Venkateshwara Nagar 18th Cross Street

Venkateshwara Nagar 18th Cross Street guideline value

The current guideline value of Venkateshwara Nagar 18th Cross 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 18th Cross Street has changed

The guideline value for Venkateshwara Nagar 18th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. In the 2023 revision, the value increased to Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,900 per sq.ft. The changes from the previous revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an increase of 11% from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

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 these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Venkateshwara Nagar 18th Cross Street.

• Venkateshwara Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 15th 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 18th Cross 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 18th Cross Street?

The Venkateshwara Nagar 18th Cross Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Kottivakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. This ensures that the property is valued accurately for legal and taxation purposes.

When a property is sold, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable fees. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar 18th Cross Street?

The current guideline value for Venkateshwara Nagar 18th Cross 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, reflecting an increase of 11%. 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 18th Cross Street?

The land classification for Venkateshwara Nagar 18th Cross Street is Residential Class II Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.