Guideline Value for Venkateswara Nagar (Part-II) 3rd Cross Street

Venkateswara Nagar (Part-II) 3rd Cross Street guideline value

The current guideline value of Venkateswara Nagar (Part-II) 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar (Part-II) 3rd Cross Street has changed

The guideline value for Venkateswara Nagar (Part-II) 3rd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which reflects a significant increase of 49% by 2023. The 2012 revision had set the value at Rs 2,000 per sq.ft, indicating a decrease of 16% by 2017. Overall, from 2012 to 2024, the guideline value has increased by 35%.

For the years 2002, 2003, and 2007, the register has no figure for this street in it. This lack of data highlights the fluctuations in property valuation over time, leading to the current guideline value.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the guideline value of Venkateswara Nagar (Part-II) 3rd Cross Street.

• Venkateswara Nagar (Part-II) 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar (Part-II) 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar (Part-I) 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar (Part-I) 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar 2nd Part Extension: Rs 2,700 per sq.ft (2024)
• Venkateswara Colony 12th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar (Part-II) 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar (Part-II) 3rd Cross Street?

The Venkateswara Nagar (Part-II) 3rd Cross Street falls under the jurisdiction of the Madhavaram Sub Registrar Office. The office is 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 Kodungaiyur

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of this value to avoid overpaying during the transaction process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar (Part-II) 3rd Cross Street?

The current guideline value of Venkateswara Nagar (Part-II) 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 35%.

What is the registration office for Venkateswara Nagar (Part-II) 3rd Cross Street?

The Madhavaram Sub Registrar Office covers Venkateswara Nagar (Part-II) 3rd Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000.

What is the land classification for Venkateswara Nagar (Part-II) 3rd Cross Street?

Venkateswara Nagar (Part-II) 3rd Cross Street is classified as Residential Class I Type - I.