Guideline Value for Venkateswara Nagar North 12th Street

Venkateswara Nagar North 12th Street guideline value

The current guideline value for Venkateswara Nagar North 12th 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 12th Street has changed

The guideline value for Venkateswara Nagar North 12th Street has seen several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2012, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. Subsequently, there was a significant increase to Rs 1,500 per sq.ft in 2023, and the current value is Rs 1,700 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a rise of 13%. Overall, comparing the value from 2012 to 2024, there has been an increase of 13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Venkateswara Nagar North 12th Street is below this median.

• Venkateswara Nagar North 11th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 13th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 10th 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 12th 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, 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 and the sale price.

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

Which Sub Registrar Office covers Venkateswara Nagar North 12th Street?

The Sub Registrar Office that covers Venkateswara Nagar North 12th 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 information.

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

When buying or selling property in Neelankarai, the guideline value is a critical factor as it determines the minimum price at which the property can be registered. This value is used by the registration office to calculate the applicable stamp duty and registration fees, ensuring that all transactions are recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as this affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process in Neelankarai.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar North 12th Street?

The current guideline value of Venkateswara Nagar North 12th 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for this street?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value would be 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.

Which Sub Registrar Office covers Venkateswara Nagar North 12th Street?

The Neelankarai Sub Registrar Office covers Venkateswara Nagar North 12th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration price for properties. It plays a crucial role in calculating the stamp duty and registration fees, impacting the overall cost of property transactions in Neelankarai.