Guideline Value for Venkateswara Nagar 4th Street

Venkateswara Nagar 4th Street guideline value

The current guideline value of Venkateswara Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar 4th Street has changed

The guideline value for Venkateswara Nagar 4th Street has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 1,005 per sq.ft. In the 2023 revision, this value increased to Rs 1,500 per sq.ft, marking a 49% increase from the previous figure. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, which is a 7% increase from 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. The current value of Rs 1,600 per sq.ft aligns with the median guideline value for other streets in Madhavaram.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 figure ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Venkateswara Nagar 4th Street's 2024 figure matches this median value.

• Venkateswara Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 2nd st ( Ward No.9 ): Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 1st st ( Ward No.9 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar 4th Street?

The Sub Registrar Office that covers Venkateswara Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable taxes and fees based on the property's value. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar 4th Street?

The current guideline value for Venkateswara Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, which is an overall increase of 59% over these years.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office located for this street?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the transaction is recorded accurately and complies with local regulations.