Guideline Value for Venkateswara Nagar 5th Street

Venkateswara Nagar 5th Street guideline value

The current guideline value for Venkateswara Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar 5th Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This increased to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 16%. However, from 2017 to 2023, the value saw a significant increase to Rs 1,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Venkateswara Nagar 5th Street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Venkateswara Nagar 5th Street.

• Venkateswara Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 3rd 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, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, bringing the total fees to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkateswara Nagar 5th Street?

The Sub Registrar Office that covers Venkateswara Nagar 5th Street is 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 Madhavaram

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar 5th Street?

The current guideline value for Venkateswara Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 33% over this period.

What is the stamp duty for a property on Venkateswara Nagar 5th Street?

The stamp duty for a property on Venkateswara Nagar 5th Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Venkateswara Nagar 5th Street?

The Madhavaram Sub Registrar Office covers transactions for Venkateswara Nagar 5th Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Are there other streets with the same guideline value in Madhavaram?

Yes, several other streets in Madhavaram have the same guideline value of Rs 1,600 per sq.ft as Venkateswara Nagar 5th Street, including Venkateswara Nagar 4th Street, 6th Street, 3rd Street, and 2nd Street.