Guideline Value for Venkateswara Colony 3rd Street

Venkateswara Colony 3rd Street guideline value

The current guideline value of Venkateswara Colony 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Venkateswara Colony 3rd Street has changed

Over the years, the guideline value for Venkateswara Colony 3rd Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. Venkateswara Colony 3rd Street's current value is above this median.

• Venkateswara Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 3rd 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 amount to Rs 66,000. Together, the total cost would be Rs 2,97,000. Please 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 further calculations.

Which Sub Registrar Office covers Venkateswara Colony 3rd Street?

The Sub Registrar Office that covers Venkateswara Colony 3rd 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 Jampuli

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

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 3rd Street?

The current guideline value of Venkateswara Colony 3rd 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 from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Jampuli?

The median guideline value in Jampuli is Rs 2,450 per sq.ft, while Venkateswara Colony 3rd Street's value is above this median at Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for properties in Venkateswara Colony 3rd Street?

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

Which office do I need to visit for registration in Venkateswara Colony 3rd Street?

The Madhavaram Sub Registrar Office is the office responsible for property registration in Venkateswara Colony 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.