Guideline Value for Venkateshwara Nagar 4th Cross Street

Venkateshwara Nagar 4th Cross Street guideline value

The current guideline value of Venkateshwara Nagar 4th Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Venkateshwara Nagar 4th Cross Street has changed

Over the years, the guideline value for Venkateshwara Nagar 4th Cross Street has seen several revisions. Starting from the 2002 revision, the value was Rs 237 per sq.ft. It increased to Rs 260 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,250 per sq.ft, but this was followed by a decrease to Rs 2,177 per sq.ft in 2017. The value then increased to Rs 3,250 per sq.ft in 2023, before reaching the current value of Rs 3,600 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +10%. The rise from 2003 to 2007 was +54%, followed by a remarkable increase of +713% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017, and increased by +49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +1419%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Venkateshwara Nagar 4th Cross Street is above this median.

• Venkateshwara Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Venkateshwara Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Venkateshwara Nagar Main Road: Rs 3,600 per sq.ft (2024)
• Venkateshwara Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Venkatachalapathi Nagar: Rs 2,750 per sq.ft (2024)
• Vel Nagar 9th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees together to Rs 3,24,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar 4th Cross Street?

The Venkateshwara Nagar 4th Cross Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 4th Cross Street?

The current guideline value of Venkateshwara Nagar 4th Cross Street is Rs 3,600 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 237 per sq.ft in 2002 to Rs 3,600 per sq.ft in 2024, marking an overall increase of +1419% over this period.

What is the land classification for Venkateshwara Nagar 4th Cross Street?

The land classification for Venkateshwara Nagar 4th Cross Street is Residential Class I Type - II.

Where can I find the Sub Registrar Office for Venkateshwara Nagar 4th Cross Street?

The Sub Registrar Office covering Venkateshwara Nagar 4th Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Venkateshwara Nagar 4th Cross Street?

The stamp duty for properties is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 36,00,000, the stamp duty at 7% would be Rs 2,52,000.