Guideline Value for Venkateswara Nagar 2nd Main Road

Venkateswara Nagar 2nd Main Road guideline value

The current guideline value of Venkateswara Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar 2nd Main Road has changed

The guideline value for Venkateswara Nagar 2nd Main Road has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in the 2023 revision, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Looking at the changes, from 2007 to 2012, the value increased by 233%. From 2012 to 2017, there was a decline of 33%. The increase from 2017 to 2023 was 49%, followed by a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the current value of Venkateswara Nagar 2nd Main Road above this median.

• Venkateswara Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar Extension: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar Extension I and II: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar 2nd Main Road?

The Venkateswara Nagar 2nd Main Road falls under the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu, as it determines the minimum value at which the property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a buyer purchases property, they must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 2nd Main Road?

The current guideline value of Venkateswara Nagar 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, with Venkateswara Nagar 2nd Main Road's current value above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Which office handles property registrations for Venkateswara Nagar 2nd Main Road?

The AnnaNagar Sub Registrar Office handles property registrations for Venkateswara Nagar 2nd Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.