Guideline Value for Venkateswara Colony 8th Street

Venkateswara Colony 8th Street guideline value

The current guideline value of Venkateswara Colony 8th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Venkateswara Colony 8th Street has changed

Over the years, the guideline value of Venkateswara Colony 8th Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and currently, it stands at Rs 3,300 per sq.ft as of the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

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. The median guideline value in this village is Rs 2,450 per sq.ft, placing Venkateswara Colony 8th Street above this median.

• Venkateswara Colony 7th 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 6th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Street: 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 8th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost of duty and fees to Rs 2,97,000. Please note that the 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 information.

Which Sub Registrar Office covers Venkateswara Colony 8th Street?

The Sub Registrar Office that covers Venkateswara Colony 8th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the registration process is standardized and transparent for all transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 8th Street?

The current guideline value of Venkateswara Colony 8th 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 to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

What is the land classification for Venkateswara Colony 8th Street?

Venkateswara Colony 8th Street is classified as Residential Special Type - I under the land classification system.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Venkateswara Colony 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total duty and fees of Rs 2,97,000.