Guideline Value for Venkateshwara Nagar 6th Street

Venkateshwara Nagar 6th Street guideline value

The current guideline value of Venkateshwara Nagar 6th 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 is classified as Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar 6th Street has changed

The guideline value for Venkateshwara Nagar 6th Street has seen several revisions over the years. The earliest recorded value was Rs 510 per sq.ft in 2002, which increased to Rs 606 per sq.ft in 2003. Following this, the value experienced significant growth, reaching Rs 1,800 per sq.ft in 2007. The subsequent revision in 2012 saw the value remain at Rs 3,500 per sq.ft, but it dropped to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 665%. The changes between the revisions highlight a fluctuating trend, with notable increases such as 197% from 2003 to 2007 and a decrease of 33% from 2012 to 2017. There are no figures available for the years not mentioned in the register for this street.

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 value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Venkateshwara Nagar 6th Street.

• Venkateshwara Nagar 5th 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)
• Venkateshwara Nagar 4th 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 6th 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, while the registration fee at 2% would be Rs 78,000. Together, the total charges would be 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 6th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 6th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. 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 during the registration process of property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded at a fair value as per government regulations. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 6th Street?

The current guideline value of Venkateshwara Nagar 6th 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, reflecting an overall increase of 665% over this period.

What is the registration office for Venkateshwara Nagar 6th Street?

The registration office for Venkateshwara Nagar 6th 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 this area?

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

What is the land classification for Venkateshwara Nagar 6th Street?

Venkateshwara Nagar 6th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.