Guideline Value for B. VENKATRAMAN NAGAR

B. Venkatraman Nagar guideline value

The current guideline value of B. Venkatraman Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of B. Venkatraman Nagar has changed

The guideline value for B. Venkatraman Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 31 per sq.ft, which increased to Rs 50 per sq.ft in 2007. The value then saw a significant rise to Rs 300 per sq.ft in 2012, followed by a decrease to Rs 201 per sq.ft in 2017. The 2023 revision set the value at Rs 300 per sq.ft, which was then increased to Rs 330 per sq.ft in the 2024 revision.

Notably, the changes between the revisions show a 965% increase from 2003 to 2024. The increase from 2017 to 2023 was 49%, while the 2012 to 2017 period saw a decrease of 33%. The 2007 to 2012 revision marked a substantial increase of 500%, and the 2003 to 2007 period saw a 61% rise. The register has no figure for B. Venkatraman Nagar for the year 2002.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with the median value being Rs 330 per sq.ft. B. Venkatraman Nagar's 2024 guideline value is equal to this median.

• Bharathi Nagar: Rs 330 per sq.ft (2024)
• Devi Nagar: Rs 330 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)
• Balamurugan Nagar /Avenue: Rs 330 per sq.ft (2024)
• Balaji Nagar: Rs 330 per sq.ft (2024)
• Dr. Kalaigar Karunanidhi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in B. Venkatraman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers B. Venkatraman Nagar?

B. Venkatraman Nagar falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanthiambakkam, as it determines the minimum price at which a property can be registered. Buyers must pay stamp duty and registration fees based on this value, ensuring that the transaction is legally recognized.

When selling property, the guideline value serves as a benchmark for pricing, helping both buyers and sellers understand the expected costs associated with the transaction. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of B. Venkatraman Nagar?

The current guideline value of B. Venkatraman Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 31 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, marking an overall increase of 965% over this period.

What is the land classification for B. Venkatraman Nagar?

B. Venkatraman Nagar is classified as Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in B. Venkatraman Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.