Guideline Value for Venkateswara Colony 9th Street

Venkateswara Colony 9th Street guideline value

The current guideline value of Venkateswara Colony 9th 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 9th Street has changed

The guideline value for Venkateswara Colony 9th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The guideline value of Venkateswara Colony 9th Street is above this median.

• Venkateswara Colony Extension: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 7th Street: 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 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 9th Street?

The Venkateswara Colony 9th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential reference point during the registration of property transactions in Jampuli. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment. This assessment is crucial for legal and financial purposes during the sale process.

Frequently asked questions

What is the current guideline value of Venkateswara Colony 9th Street?

The current guideline value of Venkateswara Colony 9th 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 2023 to Rs 3,300 per sq.ft in 2024, an increase of 10%. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Venkateswara Colony 9th Street?

The land classification for Venkateswara Colony 9th Street is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.