Guideline Value for Venkateswara Nagger 2nd Street

Venkateswara Nagger 2nd Street guideline value

The current guideline value for Venkateswara Nagger 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Venkateswara Nagger 2nd Street has changed

The guideline value for Venkateswara Nagger 2nd Street has undergone several revisions over the years. The earliest available revision is from 2007, where the value was Rs 3,300 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a rise of 52%. However, from 2012 to 2017, the value decreased by 33% to Rs 3,350 per sq.ft. The value then rose significantly to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 67%.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Venkateswara Nagger 2nd Street is below this median.

• Venkateswara Nagger 5th St: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 3rd street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 1st street: Rs 5,500 per sq.ft (2024)
• Vinayagar Koil Street: Rs 4,400 per sq.ft (2024)
• Vasantha Press South Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagger 2nd Street

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

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagger 2nd Street?

The Venkateswara Nagger 2nd Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Urur. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly. It provides a standard reference point that helps both buyers and sellers understand the value of the property being exchanged.

Frequently asked questions

What is the current guideline value for Venkateswara Nagger 2nd Street?

The current guideline value for Venkateswara Nagger 2nd Street 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 3,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 67% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is set at 2% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Venkateswara Nagger 2nd Street?

The Adayar Sub Registrar Office handles registrations for Venkateswara Nagger 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Urur?

The median guideline value for streets in Urur is Rs 6,600 per sq.ft, with Venkateswara Nagger 2nd Street's value being below this median at Rs 5,500 per sq.ft.