Guideline Value for Venus Nagar 3rd Street

Venus Nagar 3rd Street guideline value

The current guideline value of Venus Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venus Nagar 3rd Street has changed

The guideline value for Venus Nagar 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which significantly increased to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has risen by 371%.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Venus Nagar 3rd Street.

• Venus Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Venus Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriah Street: Rs 2,700 per sq.ft (2024)
• Vetri Nagar: Rs 2,700 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venus Nagar 3rd Street?

The Venus Nagar 3rd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during a sale or purchase.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process adheres to the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venus Nagar 3rd Street?

The current guideline value of Venus Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the other streets with the same guideline value in Kolathur?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Venus Nagar 1st Street, Venus Nagar 2nd Street, Vetriselvi Anbazagan Nagar 1st Street, and Vetriselvi Anbazagan Nagar 2nd Street.

What is the stamp duty on property in Venus Nagar 3rd Street?

The stamp duty on property in Venus Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area, including Venus Nagar 3rd Street.