Guideline Value for Venkateswara Colony 11th Joining Road

Venkateswara Colony 11th Joining Road guideline value

The current guideline value of Venkateswara Colony 11th Joining Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Venkateswara Colony 11th Joining Road has changed

The guideline value for Venkateswara Colony 11th Joining Road has seen several revisions over the years. The earliest recorded revision is from 2003, where the guideline value was Rs 267 per sq.ft. This figure increased significantly to Rs 2,400 per sq.ft in 2007, marking a change of +799%. In 2012, the value adjusted to Rs 3,000 per sq.ft, reflecting a decrease of -33%. The subsequent revision in 2017 raised the value to Rs 2,010 per sq.ft, and then it increased to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from the 2003 figure to the current 2024 value, there has been a substantial increase of +1136%. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Venkateswara Colony 11th Joining Road's current value below that median.

• Venkateswara Colony 12th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 10th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 13th Link Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 14th Link Road: Rs 7,300 per sq.ft (2024)
• Venkateswara Colony 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 1st Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 11th Joining Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Colony 11th Joining Road?

The Sub Registrar Office that covers Venkateswara Colony 11th Joining Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 11th Joining Road?

The current guideline value of Venkateswara Colony 11th Joining Road 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 significantly from Rs 267 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1136% over that period.

What are the registration fees for property in Venkateswara Colony 11th Joining Road?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Adayar Sub Registrar Office covers Venkateswara Colony 11th Joining Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value determined in Kottivakkam?

The guideline value in Kottivakkam is determined by the Registration Department and varies across different streets. It is based on various factors, including land classification and previous revisions.