Guideline Value for Venkateshwara Nagar1st street

Venkateshwara Nagar1st street guideline value

The current guideline value of Venkateshwara Nagar1st street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venkateshwara Nagar1st street has changed

The guideline value for Venkateshwara Nagar1st street has seen several revisions over the years. In 2003, the value was Rs 2,306 per sq.ft, which increased to Rs 3,300 per sq.ft in 2007. Following that, the value rose significantly to Rs 5,000 per sq.ft in 2012, before dropping to Rs 3,350 per sq.ft in 2017. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 139%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, placing Venkateshwara Nagar1st street's current guideline value below this median.

• Venkateshwara Nagar 3rd street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagger 2nd Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagger 5th St: Rs 5,500 per sq.ft (2024)
• Vasantha Press South Lane: Rs 5,500 per sq.ft (2024)
• Vasantha Press Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateshwara Nagar1st street?

The Sub Registrar Office that covers Venkateshwara Nagar1st street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Urur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling a property, the guideline value is referenced to establish the minimum value for taxation purposes. This ensures that all transactions are documented accurately and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar1st street?

The current guideline value of Venkateshwara Nagar1st street is Rs 5,500 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 2,306 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 139% over this period.

What is the registration office for Venkateshwara Nagar1st street?

The registration office for Venkateshwara Nagar1st street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find more information about the guideline values in Urur?

For more information about guideline values in Urur, you can refer to the Registration Department's guideline value register or consult the Adayar Sub Registrar Office.