Guideline Value for Venkateshwara Nagar Part-II 4th Street

Venkateshwara Nagar Part-II 4th Street guideline value

The current guideline value of Venkateshwara Nagar Part-II 4th Street is Rs 2,700 per sq.ft. 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-II 4th Street has changed

Over the years, the guideline value for Venkateshwara Nagar Part-II 4th Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from the 2023 revision, which was Rs 2,500 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 2,500 per sq.ft from the 2012 revision. There are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The 2024 figure aligns with the median guideline value for other streets in Kodungaiyur, which also reflects the current market conditions.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with the median value being Rs 2,700 per sq.ft. Venkateshwara Nagar Part-II 4th Street's 2024 guideline value matches this median.

• Venkateshwara Nagar Part-II 3rd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I School Road 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-II 2nd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-II 1st Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-I 4th 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-II 4th 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, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar Part-II 4th Street?

The Sub Registrar Office that covers Venkateshwara Nagar Part-II 4th 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 plays a crucial role during the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that are applicable on the transaction, ensuring that all parties are aware of the financial obligations involved.

When a property is sold, the guideline value is considered alongside the sale price to ascertain the higher amount, which will then be used to calculate the necessary duties and fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar Part-II 4th Street?

The current guideline value for Venkateshwara Nagar Part-II 4th 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. The value remained unchanged at Rs 2,500 per sq.ft from 2012 to 2023.

What is the land classification for Venkateshwara Nagar Part-II 4th Street?

Venkateshwara Nagar Part-II 4th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Venkateshwara Nagar Part-II 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the guideline value of Rs 2,700 per sq.ft would incur a total stamp duty of Rs 1,89,000.