Guideline Value for Venkateswara Nagar North 14th Street

Venkateswara Nagar North 14th Street guideline value

The current guideline value for Venkateswara Nagar North 14th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Venkateswara Nagar North 14th Street has changed

The guideline value for Venkateswara Nagar North 14th Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

From 2012 to 2017, there was a notable decrease of 33%, but since then, the value has increased significantly. The overall change from 2012 to 2024 is a modest increase of 13%, reflecting the fluctuations in the guideline value over the years.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Venkateswara Nagar North 14th Street's 2024 figure is below the median.

• Venkateswara Nagar North 13th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 15th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 12th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 9th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 11th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 10th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar North 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total 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. Together, the total fees would amount to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar North 14th Street?

The Venkateswara Nagar North 14th 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the cost involved in the registration process. This value is regularly updated to reflect changes in the real estate market, making it a vital factor in property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar North 14th Street?

The current guideline value of Venkateswara Nagar North 14th 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar North 14th Street?

The land classification for Venkateswara Nagar North 14th Street is Residential Class III Type - I.

What is the stamp duty rate for property in Venkateswara Nagar North 14th Street?

The stamp duty rate for property in Venkateswara Nagar North 14th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Nagar North 14th Street?

The Sub Registrar Office covering Venkateswara Nagar North 14th Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.