Guideline Value for SRI VENKATESHWARA NAGAR

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 102 per sq.ft, effective from 1 July 2024. This area is located in Sirunallur village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Venkateshwara Nagar has changed

The guideline value for Sri Venkateshwara Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained until the 2017 revision, where it dropped to Rs 67 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 100 per sq.ft, followed by a slight increase to Rs 102 per sq.ft in the 2024 revision, marking a 2% rise.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 2%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sirunallur

In Sirunallur, there are 16 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 175 per sq.ft. The guideline value of Sri Venkateshwara Nagar is below this median.

• Sri Vinayaga Nagar: Rs 150 per sq.ft (2024)
• Srm Nagar: Rs 120 per sq.ft (2024)
• S.R.S.Nagar: Rs 102 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Narasimmar Nagar: Rs 200 per sq.ft (2024)
• Sma Nagar Part-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, making the total fees Rs 9,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

The Sub Registrar Office that covers Sri Venkateshwara Nagar 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 more information.

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

The guideline value is a crucial factor when registering property in Sirunallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold or bought, the guideline value is used to calculate the duties and fees. This ensures that the transaction is documented accurately and reflects the value as determined by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the stamp duty rate for properties in Sri Venkateshwara Nagar?

The stamp duty rate for properties in Sri Venkateshwara Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sri Venkateshwara Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Sri Venkateshwara Nagar, 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 to calculate the stamp duty and registration fees during property transactions. It serves as a reference point to ensure that the transaction is documented accurately and complies with local regulations.