Guideline Value for Venkateswara Nagar 2nd Part Extension

Venkateswara Nagar 2nd Part Extension guideline value

The current guideline value for Venkateswara Nagar 2nd Part Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Venkateswara Nagar 2nd Part Extension has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value for Venkateswara Nagar 2nd Part Extension.

• Venkateswara Nagar (Part-I) 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-II) 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar (Part-II) 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venkateswara Nagar (Part-II) 3rd Cross Street: 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 2nd Part Extension

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 cost for these fees to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkateswara Nagar 2nd Part Extension?

The Venkateswara Nagar 2nd Part Extension falls under the Madhavaram Sub Registrar Office, 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 when registering properties in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value will be referenced during the registration process. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar 2nd Part Extension?

The current guideline value for Venkateswara Nagar 2nd Part Extension is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 8% to reach Rs 2,700 per sq.ft in 2024. The value remained unchanged at Rs 2,500 per sq.ft from 2012 to 2023.

What is the land classification for Venkateswara Nagar 2nd Part Extension?

Venkateswara Nagar 2nd Part Extension falls under the Residential Class I Type - I land classification.

Where is the Madhavaram Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

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