Guideline Value for Venkateswara Nagar 9th Street

Venkateswara Nagar 9th Street guideline value

The current guideline value of Venkateswara Nagar 9th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkateswara Nagar 9th Street has changed

The guideline value for Venkateswara Nagar 9th Street has undergone 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% increase. However, from 2012 to 2023, there was no change, with the value remaining at Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%, moving from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

Kolathur comprises 879 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is the same as the guideline value for Venkateswara Nagar 9th Street.

• Venkateswara Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar 9th Street?

The Sub Registrar Office that covers Venkateswara Nagar 9th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in the accurate assessment of property transactions. This value is regularly updated to reflect the current market conditions and land classifications.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 9th Street?

The current guideline value of Venkateswara Nagar 9th 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total 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 would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Venkateswara Nagar 9th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is responsible for Venkateswara Nagar 9th Street.

What is the land classification for Venkateswara Nagar 9th Street?

The land classification for Venkateswara Nagar 9th Street is Residential Class I Type - I.