Guideline Value for Venkateswara Garden

Venkateswara Garden guideline value

The current guideline value for Venkateswara Garden is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkateswara Garden has changed

The guideline value for Venkateswara Garden has seen significant changes over the years. In 2002, the value was Rs 448 per sq.ft, which increased to Rs 533 per sq.ft in 2003. From there, it experienced a substantial rise to Rs 2,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017, before it rose again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

Examining the changes between these revisions, the guideline value increased by 19% from 2002 to 2003, followed by a 313% increase from 2003 to 2007. The value then rose by 59% from 2007 to 2012, but dropped by 33% from 2012 to 2017. After that, it increased by 49% from 2017 to 2023, and finally by 11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 771%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Venkateswara Garden.

• Venkateswara Colony 9th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 8th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 7th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 6th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Colony 5th Joining Road: Rs 3,300 per sq.ft (2024)
• Venkateswara colony 4th Joining Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost would be Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Garden?

The Sub Registrar Office that covers Venkateswara Garden is 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 when buying or selling property in Kottivakkam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

During the registration process, the guideline value helps in establishing a baseline for property transactions. It ensures transparency and fairness in the valuation process, making it essential for all parties involved in real estate transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Garden?

The current guideline value of Venkateswara Garden is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 448 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 771% over the years.

What is the land classification of Venkateswara Garden?

Venkateswara Garden is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Venkateswara Garden?

The Adayar Sub Registrar Office covers Venkateswara Garden and is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Venkateswara Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 3,51,000 in fees.