Guideline Value for SRI VENKATESHWARA NAGAR

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar, located in Salavakkam village under the Salavakkam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Venkateshwara Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft. The value then increased significantly to Rs 200 per sq.ft in the 2023 revision. The current 2024 revision maintains this rate, reflecting a 0% change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, the guideline value from 2012 to 2024 shows no change, remaining at Rs 200 per sq.ft.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. Sri Venkateshwara Nagar's 2024 figure is above this median.

• Thottakara Street: Rs 175 per sq.ft (2024)
• Sindhu Nagar Phase-I: Rs 100 per sq.ft (2024)
• Sindhu Nagar: Rs 200 per sq.ft (2024)
• Veerapathiraswamy Koil Street: Rs 200 per sq.ft (2024)
• Venkateswara Nagar Phase- I: Rs 200 per sq.ft (2024)
• Salavakkam Colony Mettu Street: Rs 102 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

The Sub Registrar Office that covers Sri Venkateshwara Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Salavakkam. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

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 has seen various changes, with the most recent revision maintaining the rate at Rs 200 per sq.ft since 2023. The value decreased to Rs 134 per sq.ft in 2017 from Rs 200 per sq.ft in 2012.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sri Venkateshwara Nagar?

The Salavakkam Sub Registrar Office is responsible for property registrations in Sri Venkateshwara Nagar. It is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What is the land classification of Sri Venkateshwara Nagar?

Sri Venkateshwara Nagar is classified as Residential Class I Type - I. This classification is important for determining the appropriate guidelines and regulations for property transactions in the area.