Guideline Value for Venkateswara Nagar 5th Street

Venkateswara Nagar 5th Street guideline value

The current guideline value of Venkateswara Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class I Type - I land classification.

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

The guideline value of Venkateswara Nagar 5th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, showing an increase of 64% from the 2017 figure.

It is important to note that the register has no figure for the years 2023, 2003, and 2002 for this street. Overall, the guideline value has increased by 230% from the 2007 figure to the current 2024 figure.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Venkateswara Nagar 5th Street.

• Venkateswara Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 9th Street: Rs 3,300 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 rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. Together, these fees come to Rs 2,97,000. It is important to 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 more details.

Which Sub Registrar Office covers Venkateswara Nagar 5th Street?

The Sub Registrar Office that covers Venkateswara Nagar 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Venkateswara Nagar 5th Street is Rs 3,300 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Venkateswara Nagar 5th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is responsible for Venkateswara Nagar 5th Street.

What is the median guideline value for streets in Kolathur?

The median guideline value for the 879 streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the guideline value for Venkateswara Nagar 5th Street.