Guideline Value for Venkateswara Colony 14th Link Road

Venkateswara Colony 14th Link Road guideline value

The current guideline value of Venkateswara Colony 14th Link Road is Rs 7,300 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Special Type - I.

How the guideline value of Venkateswara Colony 14th Link Road has changed

The guideline value for Venkateswara Colony 14th Link Road has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 224 per sq.ft. This increased to Rs 267 per sq.ft in 2003, marking a 19% rise. The value then experienced a substantial increase to Rs 2,400 per sq.ft in 2007, which was a 799% change. Following this, the 2012 revision saw a decrease to Rs 6,600 per sq.ft, reflecting a 33% drop. The value rose again to Rs 4,422 per sq.ft in 2017, which was a 49% increase from the previous revision. In 2023, the guideline value was set at Rs 6,600 per sq.ft, and the latest revision in 2024 has established it at Rs 7,300 per sq.ft, an 11% increase from the previous year.

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Venkateswara Colony 14th Link Road is above this median.

• Venkateswara Colony 13th Link Road: Rs 3,300 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)
• Venkateswara Colony 12th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 2nd Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 14th Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,300 per sq.ft, the total guideline value would be Rs 73,00,000. The stamp duty at 7% would be Rs 5,11,000, and the registration fee at 2% would be Rs 1,46,000, bringing the total cost for these fees to Rs 6,57,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Colony 14th Link Road?

The Sub Registrar Office that covers Venkateswara Colony 14th Link 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 an essential factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher of the guideline value or the sale price is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 14th Link Road?

The current guideline value of Venkateswara Colony 14th Link Road is Rs 7,300 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 224 per sq.ft in 2002 to Rs 7,300 per sq.ft in 2024, showing an overall increase of 3159% over the years.

What is the land classification for Venkateswara Colony 14th Link Road?

The land classification for Venkateswara Colony 14th Link Road is Residential Special Type - I.

What is the registration office for properties in this area?

The registration office for properties in Venkateswara Colony 14th Link Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.