Guideline Value for Venkateswara Colony 6th Joining Road

Venkateswara Colony 6th Joining Road guideline value

The current guideline value of Venkateswara Colony 6th Joining Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This location falls under Kottivakkam village and is classified as Residential Class III Type - I, within the Adayar SRO.

How the guideline value of Venkateswara Colony 6th Joining Road has changed

The guideline value for Venkateswara Colony 6th Joining Road has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 267 per sq.ft. This figure increased significantly by 799% to Rs 2,400 per sq.ft in 2007. The 2012 revision saw a decrease of 25%, bringing the value down to Rs 3,000 per sq.ft. In 2017, the value was revised again to Rs 2,010 per sq.ft, which was a reduction of 33%. However, the value rose sharply by 49% to Rs 3,000 per sq.ft in 2023 and has now increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1136%.

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 guideline value for these streets is Rs 3,900 per sq.ft, placing Venkateswara Colony 6th Joining Road's value below that median.

• Venkateswara Colony 5th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 7th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 4th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 8th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 3rd Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 9th Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 6th Joining Road

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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Venkateswara Colony 6th Joining Road?

The Venkateswara Colony 6th Joining Road is covered by 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 a crucial factor during the registration of property transactions in Kottivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 6th Joining Road?

The current guideline value of Venkateswara Colony 6th 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 from Rs 267 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1136% over this period.

What are the stamp duty and registration fees for property here?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty 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 in this area?

The Adayar Sub Registrar Office handles property registrations for Venkateswara Colony 6th Joining Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Venkateswara Colony 6th Joining Road?

Venkateswara Colony 6th Joining Road is classified as Residential Class III Type - I.