Guideline Value for Venkateswara Nagar North 15th Street

Venkateswara Nagar North 15th Street guideline value

The current guideline value of Venkateswara Nagar North 15th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Venkateswara Nagar North 15th Street has changed

The guideline value for Venkateswara Nagar North 15th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,700 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by a 13% rise from 2023 to 2024. The overall change from 2012 to 2024 reflects a 13% increase. Notably, the years 2002, 2003, and 2007 have no figures listed for this street in the register.

Guideline values in Neelankarai

In Neelankarai village, 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 the 2024 value of Venkateswara Nagar North 15th Street below this median.

• Venkateswara Nagar North 14th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 9th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 13th Street: Rs 1,700 per sq.ft (2024)
• Venkateswara Nagar North 12th 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 15th 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, making the total charges 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar North 15th Street?

The Venkateswara Nagar North 15th 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. To find your SRO, click here.

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

The guideline value is a crucial factor during property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that both parties in the transaction adhere to the legal requirements set forth by the registration department.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar North 15th Street?

The current guideline value of Venkateswara Nagar North 15th 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 is the median guideline value for streets in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, while Venkateswara Nagar North 15th Street's 2024 value is below this median.

What are the stamp duty and registration fees for a property in Venkateswara Nagar North 15th Street?

For a property valued at 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 office handles the registration for Venkateswara Nagar North 15th Street?

The Neelankarai Sub Registrar Office handles the registration for Venkateswara Nagar North 15th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.