Guideline Value for Venkateshwara Nagar Part-I 2nd Cross Street

Venkateshwara Nagar Part-I 2nd Cross Street guideline value

The current guideline value for Venkateshwara Nagar Part-I 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateshwara Nagar Part-I 2nd Cross Street has changed

Over the years, the guideline value for Venkateshwara Nagar Part-I 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, there has been an 8% increase in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Venkateshwara Nagar Part-I 2nd Cross Street.

• Venkateshwara Nagar Part-I 1st Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 2nd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 3rd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar Part-I 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwara Nagar Part-I 2nd Cross Street?

The Sub Registrar Office that covers Venkateshwara Nagar Part-I 2nd Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process. Understanding this value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar Part-I 2nd Cross Street?

The current guideline value for Venkateshwara Nagar Part-I 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, showing an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Venkateshwara Nagar Part-I 2nd Cross Street?

The land classification for Venkateshwara Nagar Part-I 2nd Cross Street is Residential Class I Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.