Guideline Value for Venkateswara Nagar North 11th Street

Venkateswara Nagar North 11th Street guideline value

The current guideline value of Venkateswara Nagar North 11th 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 North 11th Street has changed

The guideline value for Venkateswara Nagar North 11th Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision further raised it 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.

From the 2017 to 2023 revision, there was a significant increase of 49%. The transition from 2023 to 2024 saw an increase of 13%. Overall, comparing the 2012 and 2024 revisions, there has been a 13% increase in the guideline value.

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 for these streets is Rs 2,200 per sq.ft, placing Venkateswara Nagar North 11th Street's 2024 value below this median.

• Venkateswara Nagar North 10th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 12th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 13th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 14th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 15th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 9th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar North 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total of 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar North 11th Street?

The Venkateswara Nagar North 11th Street falls under 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 during the registration process when buying or selling property in Neelankarai. It serves as a baseline for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar North 11th Street?

The current guideline value of Venkateswara Nagar North 11th 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 from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Venkateswara Nagar North 11th Street?

The Neelankarai Sub Registrar Office handles registrations for Venkateswara Nagar North 11th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Venkateswara Nagar North 11th Street?

Venkateswara Nagar North 11th Street is classified as Residential Class III Type - I.