Guideline Value for SRI VENKATA NAGAR

Sri Venkata Nagar guideline value

The current guideline value of Sri Venkata Nagar, located in P.V.Kalathur A village under the Chengleput Joint I SRO, is Rs 450 per sq.ft. This value is effective from the 2024 revision, which took effect on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Venkata Nagar has changed

The guideline value for Sri Venkata Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 450 per sq.ft, unchanged from the 2023 revision, which also recorded Rs 450 per sq.ft. Prior to that, in the 2017 revision, the guideline value was Rs 301 per sq.ft, marking a 50% increase to the 2023 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in P.V.Kalathur A

In P.V.Kalathur A, there are 21 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 450 per sq.ft. The median value for these streets is Rs 402 per sq.ft, placing Sri Venkata Nagar's 2024 figure above this median.

• Sri Ram Nagar: Rs 402 per sq.ft (2024)
• Srinivasan Nagar: Rs 250 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 450 per sq.ft (2024)
• Saraswathi Nagar: Rs 402 per sq.ft (2024)
• Sai City: Rs 250 per sq.ft (2024)
• Yamuna Nagar: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkata Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total fees to Rs 40,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Sri Venkata Nagar?

Sri Venkata Nagar falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 P.V.Kalathur A

The guideline value is a crucial factor during property transactions in P.V.Kalathur A, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs that must be paid during the transaction process. This ensures that the property is legally recognized and that all financial obligations are met.

Frequently asked questions

What is the current guideline value of Sri Venkata Nagar?

The current guideline value of Sri Venkata Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft from 2023 to 2024. It increased from Rs 301 per sq.ft in 2017 to Rs 450 per sq.ft in 2023, marking a 50% increase overall from 2017 to 2024.

What is the land classification for Sri Venkata Nagar?

The land classification for Sri Venkata Nagar is Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Chengleput Joint I Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Sri Venkata Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 450 per sq.ft results in total fees of Rs 40,500.