Guideline Value for Venkateshwara Nagar 4th Street

Venkateshwara Nagar 4th Street guideline value

The current guideline value of Venkateshwara Nagar 4th 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 falls under the Residential Class II Type - I land classification.

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

The guideline value for Venkateshwara Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 510 per sq.ft, which increased to Rs 606 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,800 per sq.ft in 2007, and then it further increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 11% from 2023 to 2024, and a substantial increase of 49% from 2017 to 2023. The value dropped by 33% from 2012 to 2017, while it surged by 94% from 2007 to 2012. The period from 2003 to 2007 saw a remarkable increase of 197%, and from 2002 to 2003, the rise was 19%. Overall, from 2002 to 2024, the guideline value has increased by 665%.

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 is Rs 3,900 per sq.ft, which is equal to the current guideline value of Venkateshwara Nagar 4th Street.

• Venkateshwara Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 9th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 4th 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, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar 4th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 4th Street is 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

When buying or selling property in Kottivakkam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is used as a benchmark to ensure that the transaction is registered at a value that reflects the current market conditions as per the registration department.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. The guideline value ensures that the property is valued correctly for taxation purposes, and it helps in maintaining transparency in real estate transactions.

Frequently asked questions

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

The current guideline value of Venkateshwara Nagar 4th 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, with various revisions in between. The most notable change was an increase of 665% from 2002 to 2024.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which is the same as the current guideline value for Venkateshwara Nagar 4th Street.

What are the stamp duty and registration fees for property in Venkateshwara Nagar 4th Street?

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 the registration for Venkateshwara Nagar 4th Street?

The Adayar Sub Registrar Office handles the registration for Venkateshwara Nagar 4th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.