Guideline Value for Venkateswara Nagar 3rd Street

Venkateswara Nagar 3rd Street guideline value

The current guideline value of Venkateswara Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venkateswara Nagar 3rd Street has changed

The guideline value for Venkateswara Nagar 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 113 per sq.ft. This value increased to Rs 123 per sq.ft in 2003, marking a 9% rise. Following this, the value surged significantly to Rs 500 per sq.ft in 2007, reflecting a 307% increase. In 2012, the guideline value was revised to Rs 1,500 per sq.ft, resulting in a 200% increase from the previous figure. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%.

In the subsequent years, the guideline value rose again, reaching Rs 1,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, representing a 13% increase from the previous year. There are no figures available for the revisions of years not listed in the register for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Venkateswara Nagar 3rd Street is below this median.

• Venkateswara Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty charged at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration fee would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara Nagar 3rd Street?

The Venkateswara Nagar 3rd Street falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. The higher of the guideline value and the actual sale price is considered for calculating these charges.

When engaging in property transactions, understanding the guideline value helps ensure compliance with legal requirements and accurate financial planning. Buyers and sellers should always refer to the most recent guideline values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 3rd Street?

The current guideline value of Venkateswara Nagar 3rd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 113 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,404% over the years.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Venkateswara Nagar 3rd Street?

The Neelankarai Sub Registrar Office handles registrations for Venkateswara Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

Where can I find more information about guideline values in Neelankarai?

For more information regarding guideline values in Neelankarai, you can refer to the official registration department's resources or visit the Neelankarai SRO.