Guideline Value for SRI VENKATESHWARA NAGAR PHASE-I

Sri Venkateshwara Nagar Phase-I guideline value

The current guideline value of Sri Venkateshwara Nagar Phase-I is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Sirunagalur village under the Madurandakam SRO, classified as Mixed Type - I.

How the guideline value of Sri Venkateshwara Nagar Phase-I has changed

Over the years, the guideline value for Sri Venkateshwara Nagar Phase-I has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. In the subsequent 2023 revision, the value returned to Rs 600 per sq.ft, and it has remained the same in the 2024 revision, reflecting a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 600 per sq.ft.

Notably, between the 2017 and 2023 revisions, there was a significant increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sirunagalur

In Sirunagalur, there are three streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 300 per sq.ft, positioning Sri Venkateshwara Nagar Phase-I above this median.

• Sri Srinivasa Perumal Nagar: Rs 100 per sq.ft (2024)
• Sudarmathi Nagar & Ext: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateshwara Nagar Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 information.

Which Sub Registrar Office covers Sri Venkateshwara Nagar Phase-I?

The Sub Registrar Office that covers Sri Venkateshwara Nagar Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Sirunagalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed against the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, making it essential for buyers and sellers to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar Phase-I?

The current guideline value of Sri Venkateshwara Nagar Phase-I is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent changes being Rs 600 per sq.ft in 2024 and 2023, Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012. The value has not changed overall from 2012 to 2024.

What is the stamp duty for property in Sri Venkateshwara Nagar Phase-I?

The stamp duty for property in Sri Venkateshwara Nagar Phase-I is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 42,000.

Where can I find the Sub Registrar Office for Sri Venkateshwara Nagar Phase-I?

The Sub Registrar Office for Sri Venkateshwara Nagar Phase-I is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a minimum benchmark for property registration. It determines the stamp duty and registration fees based on the higher value between the guideline and the sale price during property transactions.