Guideline Value for Venkateshwara Nagar 7th Street

Venkateshwara Nagar 7th Street guideline value

The current guideline value of Venkateshwara Nagar 7th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Venkateshwara Nagar 7th Street has changed

The guideline value for Venkateshwara Nagar 7th Street has seen significant changes 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 rose dramatically to Rs 1,800 per sq.ft in 2007, and further increased to Rs 3,500 per sq.ft in 2012. However, it saw a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,900 per sq.ft in the 2024 revision.

Between the revisions, the changes are notable. From 2002 to 2024, the overall increase is 665%. The jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 was 11%. The period from 2007 to 2012 saw a decrease of 33%, and the increase from 2003 to 2007 was a remarkable 197%. 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, 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 value of Venkateshwara Nagar 7th Street.

• Venkateshwara Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 4th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar 7th 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, bringing the total to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Nagar 7th Street?

The Adayar Sub Registrar Office covers Venkateshwara Nagar 7th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that all transactions are conducted fairly and transparently.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable fees. This helps in maintaining consistency in property transactions and provides a clear framework for both parties involved in the deal.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar 7th Street?

The current guideline value of Venkateshwara Nagar 7th 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 increases and decreases at different intervals.

What is the land classification of Venkateshwara Nagar 7th Street?

Venkateshwara Nagar 7th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher, and varies according to the current rates set by the government.