Guideline Value for Venkateswara Colony 7th Street

Venkateswara Colony 7th Street guideline value

The current guideline value of Venkateswara Colony 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Venkateswara Colony 7th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a -33% change. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, followed by a rise to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes from 2017 to 2023 show a notable increase of 49%, reflecting the fluctuations in the guideline value over the years.

Guideline values in Jampuli

In Jampuli, 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 7th Street's 2024 figure is above this median.

• Venkateswara Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 9th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony Extension: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Colony 7th Street

For a 1,000 sq.ft plot at the current rate, 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. 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 7th Street?

The Venkateswara Colony 7th Street is covered by 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 plays a crucial role during property transactions in Jampuli. It is used to determine the stamp duty and registration fees applicable when buying or selling a property, ensuring that the correct amounts are paid to the government.

When registering a property, the guideline value is referenced to calculate the necessary fees. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 7th Street?

The current guideline value of Venkateswara Colony 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting from Rs 3,000 in 2012, dropping to Rs 2,010 in 2017, and then rising to Rs 3,300 in 2024.

What are the other streets in Jampuli with the same guideline value?

Several other streets in Jampuli have the same guideline value of Rs 3,300 per sq.ft in 2024, including Venkateswara Colony 6th, 8th, 5th, 9th, and 4th Streets, as well as Venkateswara Colony Extension.

What is the registration fee for a property in Venkateswara Colony 7th Street?

The registration fee for a property in Venkateswara Colony 7th Street is calculated at 2% of the guideline value. For example, for a plot valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Venkateswara Colony 7th Street?

The Madhavaram Sub Registrar Office covers Venkateswara Colony 7th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.