Guideline Value for SRI VENKATESHWARA NAGAR

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Venkateshwara Nagar has changed

The guideline value of Sri Venkateshwara Nagar has seen several revisions over the years. In 2002, the value was Rs 135 per sq.ft, which increased to Rs 153 per sq.ft in 2003. Following this, the value rose significantly to Rs 600 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and again to Rs 2,800 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 12%. The most significant change occurred between 2007 and 2012, where the value surged by 317%. Overall, from 2002 to 2024, the guideline value has increased by 1974%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Sri Venkateshwara Nagar's 2024 figure below this median.

• Sri Jayandra Colony (Omr) (Kottivakkam Included): Rs 6,100 per sq.ft (2024)
• Telephone Nagar 10th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 11th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 12th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 13th Cross Street: Rs 5,500 per sq.ft (2024)
• Telephone Nagar 14th Cross Street: Rs 5,500 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Perungudi. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

During the registration process, the guideline value ensures that the property is valued correctly for tax purposes. It is essential for both buyers and sellers to understand how this value impacts their transaction costs.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 135 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1974% over this period.

What is the land classification of Sri Venkateshwara Nagar?

Sri Venkateshwara Nagar is classified as Residential Class III Type - I.

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

The Neelankarai Sub Registrar Office covers Sri Venkateshwara Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sri Venkateshwara Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.