Guideline Value for Venkateswara 2nd St (Ward-09)

Venkateswara 2nd St (Ward-09) guideline value

The current guideline value for Venkateswara 2nd St (Ward-09) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara 2nd St (Ward-09) has changed

The guideline value for Venkateswara 2nd St has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,600 per sq.ft in the 2024 revision, marking a change of +7%.

Prior to the 2023 revision, there are no figures available for this street. The current value of Rs 1,600 per sq.ft aligns with the median guideline value for Madhavaram, which ranges from Rs 1,300 to Rs 7,500 per sq.ft in 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the median guideline value set at Rs 1,600 per sq.ft. Venkateswara 2nd St's 2024 figure matches this median. Below are other streets in Madhavaram with their respective guideline values:

• Venkateswara Colony 10th Street (Ward-04): Rs 1,600 per sq.ft (2024)
• Venkateswara Colony 11th Street (Ward-04): Rs 1,600 per sq.ft (2024)
• Venkateswara Colony (Ward-04): Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 10th st (Ward No.4): Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 11th st (Ward No.4): Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara 2nd St (Ward-09)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara 2nd St (Ward-09)?

The Venkateswara 2nd St (Ward-09) falls under 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 Madhavaram

The guideline value plays a crucial role in property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees during the registration process of property sales.

Frequently asked questions

What is the current guideline value for Venkateswara 2nd St?

The current guideline value for Venkateswara 2nd St (Ward-09) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Venkateswara 2nd St has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, reflecting a +7% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft for the year 2024. This median is derived from a range of Rs 1,300 to Rs 7,500 per sq.ft across 1,946 streets in the village.

What are the stamp duty and registration fees for property in Venkateswara 2nd St?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information through the provided link.