Guideline Value for Venkateswara Nagar 6th Street

Venkateswara Nagar 6th Street guideline value

The current guideline value of Venkateswara Nagar 6th 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 6th Street has changed

The guideline value for Venkateswara Nagar 6th Street has seen several revisions over the years. The earliest figure available is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision shows an increase of 13%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 13%.

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 6th Street's 2024 figure below that median.

• Venkateswara Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar (Canal): Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 6th 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar 6th Street?

The Sub Registrar Office that covers Venkateswara Nagar 6th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the correct fees are paid based on the property's assessed value. This value is essential for maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 6th Street?

The current guideline value of Venkateswara Nagar 6th 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 several times, with the 2012 revision at Rs 1,500 per sq.ft, decreasing to Rs 1,005 per sq.ft in 2017, then increasing to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,700 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar 6th Street?

Venkateswara Nagar 6th Street is classified as Residential Class III Type - I, indicating its designation for residential use.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Nagar 6th Street?

The Sub Registrar Office for Venkateswara Nagar 6th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.