Guideline Value for SRI VENKATESHWARA NAGAR

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Manimangalam B village under the Padappai SRO and is classified as Residential Class III Type - II.

How the guideline value of Sri Venkateshwara Nagar has changed

According to the register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017 for Sri Venkateshwara Nagar. The guideline value was Rs 1,200 per sq.ft for the 2023 revision, which increased by 10% to Rs 1,320 per sq.ft in the 2024 revision.

This change reflects the current valuation trend, with the 2024 figure being the most recent. The increase from 2023 to 2024 indicates a shift in the guideline value for this locality.

Guideline values in Manimangalam B

In Manimangalam B, there are 16 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 1,360 per sq.ft, placing Sri Venkateshwara Nagar's 2024 figure below this median.

• Sri Astalakshmi Nagar Phase - III: Rs 770 per sq.ft (2024)
• Sri Astalakshmi Nagar: Rs 770 per sq.ft (2024)
• Shobha Blossoms: Rs 1,540 per sq.ft (2024)
• Shiva Garden Part - II: Rs 880 per sq.ft (2024)
• Nandhini Garden Phase -II: Rs 960 per sq.ft (2024)
• Nandhini Garden: Rs 880 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Manimangalam B. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased by 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sri Venkateshwara Nagar?

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

Where is the Sub Registrar Office for Sri Venkateshwara Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in relation to the guideline value?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.