Guideline Value for SRI VENKATESHWARA NAGAR

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Surai village under the Madurandakam SRO, classified as Residential Special 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 most recent revisions show that the 2024 figure is Rs 200 per sq.ft, which has remained unchanged from the 2023 revision. The 2017 revision recorded a value of Rs 134 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 200 per sq.ft, which represents a decrease of 33% from the 2017 figure. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The 2012, 2017, 2023, and 2024 revisions are the only years with recorded figures, with the 2024 figure being the same as in 2023 and 2012.

Guideline values in Surai

In Surai village, there are six streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 151 per sq.ft, and Sri Venkateshwara Nagar's 2024 figure is above this median.

• Temple View City: Rs 101 per sq.ft (2024)
• Santuary: Rs 100 per sq.ft (2024)
• VIP CITY in SMA GREEN GARDEN: Rs 200 per sq.ft (2024)
• Indira Ranga Plots: Rs 100 per sq.ft (2024)
• "arunachala Eswarar Nagar": Rs 200 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 rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 details.

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 additional information.

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

The guideline value is a crucial factor when registering property transactions in Surai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property 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 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Venkateshwara Nagar has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the other streets in Surai and their guideline values?

Other streets in Surai include Temple View City at Rs 101 per sq.ft, Santuary at Rs 100 per sq.ft, VIP CITY in SMA GREEN GARDEN at Rs 200 per sq.ft, Indira Ranga Plots at Rs 100 per sq.ft, and "arunachala Eswarar Nagar" at Rs 200 per sq.ft.

What are the stamp duty and registration fees for property in Sri Venkateshwara Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 200 per sq.ft, the total cost for stamp duty and registration fees would be Rs 18,000.

Which office handles property registration for Sri Venkateshwara Nagar?

The Madurandakam Sub Registrar Office handles property registration for Sri Venkateshwara Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.