Guideline Value for Lord venkateshvara nagar

Lord venkateshvara nagar guideline value

The current guideline value of Lord venkateshvara nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Lord venkateshvara nagar has changed

The guideline value for Lord venkateshvara nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure then changed to Rs 1,005 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,650 per sq.ft in 2024, marking a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Lord venkateshvara nagar.

• Lottus Avenue: Rs 1,650 per sq.ft (2024)
• Lolpagathur sarashvathiri street: Rs 1,650 per sq.ft (2024)
• L.I.C. Colony: Rs 1,650 per sq.ft (2024)
• Lenin Street: Rs 3,300 per sq.ft (2024)
• Lenin Cross Street: Rs 1,650 per sq.ft (2024)
• Madhavan St: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Lord venkateshvara nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Lord venkateshvara nagar?

The Sub Registrar Office covering Lord venkateshvara nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. This value helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Lord venkateshvara nagar?

The current guideline value of Lord venkateshvara nagar is Rs 1,650 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 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles registrations for this area?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Lord venkateshvara nagar, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined for properties?

The guideline value is determined based on various factors, including the land classification and historical revisions. It serves as a standard for calculating applicable taxes during property transactions.