Guideline Value for Venkateshwara Nagar Main Road

Venkateshwara Nagar Main Road guideline value

The current guideline value of Venkateshwara Nagar Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Venkateshwara Nagar Main Road has seen several revisions over the years. Starting from Rs 510 per sq.ft in 2002, it increased to Rs 606 per sq.ft in 2003, marking a 19% rise. The value then surged significantly to Rs 2,000 per sq.ft in 2007, reflecting a 230% increase. By 2012, the value adjusted to Rs 3,500 per sq.ft, which was a decrease of 33%. The 2017 revision brought the value back up to Rs 2,345 per sq.ft, and in 2023, it increased to Rs 3,500 per sq.ft.

As of 2024, the guideline value is set at Rs 3,900 per sq.ft, which represents an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 665%.

Guideline values in Kottivakkam

Kottivakkam has a total of 284 streets under the Adayar SRO, with the 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which is the same as the current value for Venkateshwara Nagar Main Road.

• Venkateshwara Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Venkateshwara Nagar 7th 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 4th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar Main Road

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 fees to 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 detailed calculations.

Which Sub Registrar Office covers Venkateshwara Nagar Main Road?

The Sub Registrar Office that covers Venkateshwara Nagar Main Road is the Adayar Sub Registrar Office, 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 in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This value is essential for both parties to understand the financial implications of the transaction, as it directly affects the total cost involved in the property transfer.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar Main Road?

The current guideline value of Venkateshwara Nagar Main Road 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 an overall increase of 665% over the years.

What is the stamp duty for property in Venkateshwara Nagar Main Road?

The stamp duty for property in Venkateshwara Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

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

How can I calculate the registration fees for a property?

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