Guideline Value for SRI VENKATESWARA MOUNT VIEW NAGAR

Sri Venkateswara Mount View Nagar guideline value

The current guideline value of Sri Venkateswara Mount View Nagar is Rs 900 per sq.ft, effective from 1 July 2024. This area is located in Chettipunniyam village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Venkateswara Mount View Nagar has changed

The guideline value for Sri Venkateswara Mount View Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased dramatically to Rs 900 per sq.ft in the 2012 revision, marking a rise of 350%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The value then increased significantly by 49% to Rs 900 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the current 2024 revision reflects a substantial increase of 350%.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median value is Rs 900 per sq.ft, which aligns with the current guideline value of Sri Venkateswara Mount View Nagar.

• Sri Yoga Hayagrivar Vijayam Sowbhagya Housing: Rs 900 per sq.ft (2024)
• Sterling Builders Uds: Rs 1,200 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 900 per sq.ft (2024)
• Sri Padmavathi Nagar 3: Rs 700 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 5: Rs 900 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 3: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Mount View Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, making the total fees Rs 81,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sri Venkateswara Mount View Nagar?

Sri Venkateswara Mount View Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chettipunniyam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Mount View Nagar?

The current guideline value of Sri Venkateswara Mount View Nagar is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and remained at Rs 900 per sq.ft in 2023 and 2024.

What is the registration office for Sri Venkateswara Mount View Nagar?

The registration office for Sri Venkateswara Mount View Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Sri Venkateswara Mount View Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 9,00,000, the stamp duty at 7% would be Rs 63,000.

What are the other streets in Chettipunniyam with their guideline values?

Other streets in Chettipunniyam include Sri Yoga Hayagrivar Vijayam Sowbhagya Housing and Sri Sai Baba Nagar, both at Rs 900 per sq.ft, and Sterling Builders Uds at Rs 1,200 per sq.ft.