Guideline Value for Venkateswara Nagar 10th Street

Venkateswara Nagar 10th Street guideline value

The current guideline value of Venkateswara Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar 10th Street has changed

The guideline value for Venkateswara Nagar 10th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, there was a decrease in the 2017 revision, bringing it down to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 200%, followed by a decrease of 33% from 2012 to 2017. Then, the value surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Venkateswara Nagar 10th Street.

• Venkateswara Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 10th 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar 10th Street?

The Sub Registrar Office that covers Venkateswara Nagar 10th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kolathur. It serves as a benchmark for determining the amount of stamp duty and registration fees to be paid at the time of property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment. This process aids in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar 10th Street?

The current guideline value for Venkateswara Nagar 10th 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 several times, starting from Rs 1,000 per sq.ft in 2007, reaching Rs 3,000 in 2012, dropping to Rs 2,010 in 2017, increasing to Rs 3,000 in 2023, and finally reaching Rs 3,300 in 2024.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, which is the same as the guideline value for Venkateswara Nagar 10th Street.

What are the stamp duty and registration fees for a property in Venkateswara Nagar 10th Street?

For a property of 1,000 sq.ft, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Venkateswara Nagar 10th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Venkateswara Nagar 10th Street.