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 locality is situated in Uoonamali village, under the Madurandakam SRO, with a land classification of 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. Subsequently, the 2023 revision brought it back to Rs 600 per sq.ft, and the 2024 revision maintains this value, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 reflected a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant at Rs 600 per sq.ft.

Guideline values in Uoonamali

In Uoonamali village, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 701 per sq.ft. The median value among these streets is Rs 200 per sq.ft, placing Sri Venkateshwara Nagar Phase-I above that median.

• Sundar Avenue: Rs 200 per sq.ft (2024)
• Srinivasa Avenue: Rs 200 per sq.ft (2024)
• Thenral Nagar: Rs 200 per sq.ft (2024)
• Saravana Nagar: Rs 701 per sq.ft (2024)
• Vetrivel Nagar: Rs 200 per sq.ft (2024)
• Ram Nagar: Rs 200 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 guideline value of Rs 600 per sq.ft, the total 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, bringing the total charges to Rs 54,000. It is important to note that 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 precise calculations.

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

The Sri Venkateshwara Nagar Phase-I area falls under the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Uoonamali, the guideline value is a crucial factor in determining the amount of stamp duty and registration fees payable. This value is set by the government and is used to assess the financial obligations of the buyer during the registration process.

It is essential to be aware that the guideline value may vary between different streets within the same locality. Buyers should ensure they are informed about the specific guideline value applicable to the property they are interested in to avoid any discrepancies during the transaction.

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 changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023 and 2024. There were no figures for the years 2002, 2003, and 2007 for this street.

What is the registration fee for property in Sri Venkateshwara Nagar Phase-I?

The registration fee for property in Sri Venkateshwara Nagar Phase-I is 2% of the guideline value. For a plot valued at Rs 6,00,000, the registration fee would be Rs 12,000.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How does the guideline value affect property transactions in Uoonamali?

The guideline value affects property transactions in Uoonamali by determining the stamp duty and registration fees payable during the registration process. It is essential for buyers to be aware of the specific guideline value for their property to ensure accurate financial planning.