Guideline Value for Venkateswara Colony 11th Street

Venkateswara Colony 11th Street guideline value

The current guideline value for Venkateswara Colony 11th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. 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 Venkateswara Colony 11th Street has changed

In the 2023 revision, the guideline value was Rs 2,500 per sq.ft. The most recent 2024 revision has increased this value to Rs 2,700 per sq.ft, marking an 8% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only available revisions for Venkateswara Colony 11th Street are from 2023 and 2024, with the guideline value changing from Rs 2,500 to Rs 2,700 per sq.ft.

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. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Venkateswara Colony 11th Street.

• Venkateswara Colony 10th Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Colony 12th 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 4th Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-II 3rd Street: Rs 2,700 per sq.ft (2024)
• Venkateshwara Nagar Part-II 2nd Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value is 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, totaling Rs 2,43,000. 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 11th Street?

The Sub Registrar Office that covers Venkateswara Colony 11th 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 is an essential factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the true value of the property. This process helps maintain transparency and legality in real estate dealings in Kodungaiyur.

Frequently asked questions

What is the current guideline value for Venkateswara Colony 11th Street?

The current guideline value for Venkateswara Colony 11th 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Venkateswara Colony 11th Street?

Venkateswara Colony 11th Street is classified as Residential Class I Type - I.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Venkateswara Colony 11th Street is charged at 7% of the guideline value or 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.