Guideline Value for SRI VENKATACHALAPATHY NAGAR

Sri Venkatachalapathy Nagar guideline value

The current guideline value of Sri Venkatachalapathy Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Phagalmedu village under the Arani_Tiruvallur SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Venkatachalapathy Nagar has changed

The guideline value for Sri Venkatachalapathy Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 167 per sq.ft, marking a 50% increase from 2017 to 2023 and an overall increase of 50% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012. Thus, the only revisions available for this street are from 2017, 2023, and 2024, with no data for the earlier years.

Guideline values in Phagalmedu

In Phagalmedu, there are six streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 275 per sq.ft, placing Sri Venkatachalapathy Nagar below that median.

• Sri Vari Nagar Phase-II: Rs 300 per sq.ft (2024)
• Srivari Nagar Phase-1: Rs 300 per sq.ft (2024)
• Thirumalai Nagar: Rs 250 per sq.ft (2024)
• Padmavathi Nagar: Rs 250 per sq.ft (2024)
• Kavitha Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkatachalapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 precise calculations based on your specific property transaction.

Which Sub Registrar Office covers Sri Venkatachalapathy Nagar?

The Sub Registrar Office that covers Sri Venkatachalapathy Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Phagalmedu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value helps establish the baseline for the transaction. Buyers and sellers must consider this value to comply with legal requirements and ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Sri Venkatachalapathy Nagar?

The current guideline value of Sri Venkatachalapathy Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2024, marking a 50% increase over this period.

What is the land classification of Sri Venkatachalapathy Nagar?

Sri Venkatachalapathy Nagar is classified as Residential Class III Type - I.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registrations for Sri Venkatachalapathy Nagar?

The Arani_Tiruvallur Sub Registrar Office handles property registrations for Sri Venkatachalapathy Nagar, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.