Guideline Value for Venkateshwara Nagar 5th Street

Venkateshwara Nagar 5th Street guideline value

The current guideline value of Venkateshwara Nagar 5th 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 5th Street has changed

The guideline value for Venkateshwara Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 510 per sq.ft. This increased to Rs 606 per sq.ft in 2003, marking a change of +19%. The value then surged significantly to Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of +197%. Following this, the value rose to Rs 3,500 per sq.ft in 2012, which was an increase of +94%. However, there was a decline to Rs 2,345 per sq.ft in 2017, showing a decrease of -33%. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,900 per sq.ft in 2024, representing an increase of +11%.

There are no figures available for the years not listed in the register for this street. 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 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 current value of Venkateshwara Nagar 5th Street.

• Venkateshwara Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 4th 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)
• Venkateshwara Nagar Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 5th 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, totaling Rs 3,51,000. It is important to 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 5th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 5th 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 when buying or selling property in Kottivakkam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a price that reflects the area's market conditions. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 5th Street?

The current guideline value of Venkateshwara Nagar 5th 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 510 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of +665% over the years.

What is the registration office for Venkateshwara Nagar 5th Street?

The registration office for Venkateshwara Nagar 5th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Venkateshwara Nagar 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,73,000 based on the current guideline value.

What are the guideline values of other streets in Kottivakkam?

Other streets in Kottivakkam have a guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with several streets, including Venkateshwara Nagar 6th, 7th, 4th, 8th, 9th Streets, and Venkateshwara Nagar Main Road, all having a 2024 guideline value of Rs 3,900 per sq.ft.