Guideline Value for Venkateswara Nagar 4th Street

Venkateswara Nagar 4th Street guideline value

The current guideline value of Venkateswara Nagar 4th Street is Rs 1,700 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 4th Street has changed

The guideline value for Venkateswara Nagar 4th Street has seen several revisions over the years. In 2002, the value was Rs 113 per sq.ft, which increased to Rs 123 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,700 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was 200%. The value saw a significant rise of 307% from 2003 to 2007, and a modest increase of 9% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,404%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Venkateswara Nagar 4th Street's 2024 figure below this median.

• Venkateswara Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 5th 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 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venkateswara Nagar 4th Street?

The Venkateswara Nagar 4th 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 of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is important to note that the stamp duty and registration fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Venkateswara Nagar 4th 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 significantly from Rs 113 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,404%.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which means that Venkateswara Nagar 4th Street's 2024 figure is below this median.

What are the stamp duty rates for properties in Venkateswara Nagar 4th Street?

The stamp duty for properties in Venkateswara Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venkateswara Nagar 4th Street located?

The Sub Registrar Office for Venkateswara Nagar 4th Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.