Guideline Value for Venkateshwara Nagar 6th Street

Venkateshwara Nagar 6th Street guideline value

The current guideline value of Venkateshwara Nagar 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

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

The guideline value for Venkateshwara Nagar 6th Street has seen significant changes over the years. In 2002, the guideline value was Rs 224 per sq.ft. This increased dramatically to Rs 3,500 per sq.ft in 2023, marking a rise of 1463%. The latest revision in 2024 saw a further increase to Rs 3,850 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2003, 2007, 2012, and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1619%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. Venkateshwara Nagar 6th Street's 2024 figure is below this median.

• Venkateshwara Nagar 7th Main Road: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 6th Main Road 1st Cross St: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 5th Main Road Lane: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 5th Main Road: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 5th Cross Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on costs.

Which Sub Registrar Office covers Venkateshwara Nagar 6th Street?

The Sub Registrar Office that covers Venkateshwara Nagar 6th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented and compliant with local regulations.

When a property is sold, the guideline value helps establish the minimum value at which the property can be registered. This process ensures transparency and fairness in property transactions, protecting both buyers and sellers.

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 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 224 per sq.ft to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1619%.

What is the stamp duty rate for properties in Venkateshwara Nagar 6th Street?

The stamp duty rate for properties in Venkateshwara Nagar 6th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available online.