Guideline Value for Venkateswara Nagar Ist Main Road

Venkateswara Nagar Ist Main Road guideline value

The current guideline value of Venkateswara Nagar Ist Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar Ist Main Road has changed

The guideline value for Venkateswara Nagar Ist Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 1,500 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 233%. However, the value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, and then to the current Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a substantial increase of 267%. It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing the Venkateswara Nagar Ist Main Road's 2024 figure above this median.

• Venkateswara Nagar Extension I and II: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar Extension: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar Ist Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar Ist Main Road?

The Venkateswara Nagar Ist Main Road is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Ist Main Road?

The current guideline value of Venkateswara Nagar Ist Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, with Venkateswara Nagar Ist Main Road's current value being above this median.

What fees are associated with property transactions in Venkateswara Nagar Ist Main Road?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000, and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles registrations for this area?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Venkateswara Nagar Ist Main Road.