Guideline Value for Venkateswara Colony 2nd Cross Street

Venkateswara Colony 2nd Cross Street guideline value

The current guideline value of Venkateswara Colony 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and is classified as Residential Class III Type - I.

How the guideline value of Venkateswara Colony 2nd Cross Street has changed

The guideline value for Venkateswara Colony 2nd Cross Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 306 per sq.ft. This increased significantly to Rs 2,400 per sq.ft in 2007, marking a change of +684%. The value then saw a rise to Rs 3,000 per sq.ft in 2012, which was a +25% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of -33%. In the subsequent revision in 2023, the value rose to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, representing a +10% change.

Overall, from the 2003 revision to the current 2024 figure, the guideline value has increased by +978%. 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 value for these streets is Rs 3,900 per sq.ft, placing Venkateswara Colony 2nd Cross Street's 2024 figure below that median.

• Venkateswara Colony 2nd Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 1st Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 14th Link Road: Rs 7,300 per sq.ft (2024)
• Venkateswara Colony 3rd Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 2nd Cross 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Colony 2nd Cross Street?

The Sub Registrar Office that covers Venkateswara Colony 2nd Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum price at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the financial obligations of both the buyer and seller. The registration process will require adherence to the guideline value, which is updated periodically to reflect changes in the market.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 2nd Cross Street?

The current guideline value of Venkateswara Colony 2nd Cross 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 several times, starting from Rs 306 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +978% over the years.

What is the median guideline value for streets in Kottivakkam?

The median guideline value for streets in Kottivakkam is Rs 3,900 per sq.ft for the year 2024, with Venkateswara Colony 2nd Cross Street's value being below this median.

What are the stamp duty and registration fees for property in Venkateswara Colony 2nd Cross Street?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Venkateswara Colony 2nd Cross Street?

The Adayar Sub Registrar Office handles property registrations for Venkateswara Colony 2nd Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.