Guideline Value for Venkateswara Colony 12th Street

Venkateswara Colony 12th Street guideline value

The current guideline value of Venkateswara Colony 12th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Venkateswara Colony 12th Street has changed

The guideline value for Venkateswara Colony 12th Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 2,500 per sq.ft in 2023, which increased to Rs 2,700 per sq.ft in 2024, marking an 8% rise.

Prior to the 2023 revision, there are no available figures for this street in the register for the years mentioned. The 2024 figure of Rs 2,700 per sq.ft aligns with the median value for the 1318 streets in Kodungaiyur under the Madhavaram SRO, which also stands at Rs 2,700 per sq.ft.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values for various streets range from Rs 1,900 to Rs 4,000 per sq.ft, with the median value being Rs 2,700 per sq.ft. Venkateswara Colony 12th Street's guideline value matches this median, indicating its positioning within the overall market.

• Venkateswara Colony 11th Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Colony 10th 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 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkateswara Colony 12th Street?

The Venkateswara Colony 12th Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering a property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property in the official register. This helps in maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 12th Street?

The current guideline value of Venkateswara Colony 12th 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 has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Venkateswara Colony 12th Street?

Venkateswara Colony 12th Street is classified as Residential Class I Type - I. This classification indicates its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is the stamp duty calculated for properties in Venkateswara Colony 12th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,89,000.