Guideline Value for Venkateswara Colony 10th Street

Venkateswara Colony 10th Street guideline value

The current guideline value of Venkateswara Colony 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Venkateswara Colony 10th Street has changed

The guideline value for Venkateswara Colony 10th Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. However, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then rose again to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Venkateswara Colony 10th Street is above this median.

• Venkateswara Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Venkateswara Colony 10th Street?

The Sub Registrar Office that covers Venkateswara Colony 10th 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 Jampuli

The guideline value is a crucial factor in the registration process when buying or selling property in Jampuli. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented and the appropriate taxes are collected.

When a property is sold, the guideline value serves as a benchmark for the transaction price. Buyers and sellers should be aware that the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 10th Street?

The current guideline value of Venkateswara Colony 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Venkateswara Colony 10th Street?

Venkateswara Colony 10th Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for a property in Venkateswara Colony 10th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Venkateswara Colony 10th Street located?

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