Guideline Value for Venkateswara Colony 2nd Joining Road

Venkateswara Colony 2nd Joining Road guideline value

The current guideline value of Venkateswara Colony 2nd Joining Road 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 Joining Road has changed

The guideline value for Venkateswara Colony 2nd Joining Road has undergone several revisions over the years. The earliest recorded revision in 2003 set the value at Rs 267 per sq.ft. This figure saw a significant increase to Rs 2,400 per sq.ft in 2007, marking a rise of 799%. In 2012, the value adjusted to Rs 3,000 per sq.ft, reflecting a decrease of 33%. The 2017 revision raised it to Rs 2,010 per sq.ft, followed by a substantial increase to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. Notably, the register has no figure for this street in 2002.

From the 2003 revision to the current 2024 value, the guideline value has increased by 1136%. The changes between the revisions indicate fluctuations in the guideline value, with the most significant increase occurring between 2003 and 2007, and a notable rise from 2017 to 2023.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with 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, indicating that Venkateswara Colony 2nd Joining Road's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Venkateswara Colony 2nd Joining Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Colony 2nd Joining Road?

The Sub Registrar Office that covers Venkateswara Colony 2nd 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

When buying or selling property in Kottivakkam, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 2nd Joining Road?

The current guideline value of Venkateswara Colony 2nd 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, starting from Rs 267 per sq.ft in 2003 and reaching Rs 3,300 per sq.ft in 2024, marking an overall increase of 1136% from the 2003 revision.

What is the stamp duty for property in Venkateswara Colony 2nd Joining Road?

The stamp duty for property in Venkateswara Colony 2nd Joining Road is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000.

Which office handles registrations for Venkateswara Colony 2nd Joining Road?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors including location, land classification, and previous revisions. It serves as a minimum benchmark for property transactions.