Guideline Value for Venkateshwara Nagar 4th Street

Venkateshwara Nagar 4th Street guideline value

The current guideline value of Venkateshwara Nagar 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class IV Type - I.

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

The guideline value for Venkateshwara Nagar 4th Street has seen several revisions over the years. The 2003 revision set the value at Rs 2,137 per sq.ft, which increased to Rs 3,300 per sq.ft in 2007, marking a rise of 54%. In 2012, the value was revised to Rs 5,000 per sq.ft, reflecting a significant increase of 52%. However, in 2017, it decreased to Rs 3,350 per sq.ft, showing a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by another increase to Rs 5,500 per sq.ft in 2024, a change of 10%.

Overall, from the 2003 revision to the current 2024 revision, the guideline value has increased by 157%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Venkateshwara Nagar 4th Street's 2024 figure below that median.

• Venkateshwara Nagar 3rd street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 1st street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagger 2nd Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagger 5th St: Rs 5,500 per sq.ft (2024)
• Vasantha Press South Lane: Rs 5,500 per sq.ft (2024)
• Vasantha Press Road: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, 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 more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Urur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 2,137 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 157% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price during registration.

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

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

What is the registration fee for property transactions?

The registration fee for property transactions in this area is 2% of the guideline value or sale price, whichever is higher.