Guideline Value for SRI VENKATESWARA NAGAR PH I &II

Sri Venkateswara Nagar Ph I &ii guideline value

The current guideline value of Sri Venkateswara Nagar Ph I &ii is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vaiyavoor village and falls under the Madurandakam Sub Registrar Office (SRO). The land classification for this area is Mixed Type - II.

How the guideline value of Sri Venkateswara Nagar Ph I &ii has changed

The guideline value for Sri Venkateswara Nagar Ph I &ii has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision saw a decrease to Rs 335 per sq.ft, marking a change of -33% from the previous 2012 figure. Between 2017 and 2023, the value increased by 49%, bringing it back to Rs 500 per sq.ft. The current 2024 revision maintains this value, showing no change from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 500 per sq.ft, indicating no variation over this period.

Guideline values in Vaiyavoor

In Vaiyavoor, there are nine streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 800 per sq.ft. The median value for these streets is Rs 200 per sq.ft, positioning Sri Venkateswara Nagar Ph I &ii above that median.

• Sri Venkateshwara Nagar Phase-I&ii: Rs 500 per sq.ft (2024)
• Sri Padmavathy Nagar: Rs 150 per sq.ft (2024)
• Sri Bharathi Nagar: Rs 200 per sq.ft (2024)
• Guberamangala Nagar: Rs 100 per sq.ft (2024)
• Alangar Gateway City: Rs 150 per sq.ft (2024)
• Sri Padhmavathy Nagar Anex: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar Ph I &ii

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would amount to Rs 5,00,000. The stamp duty is charged at 7%, which would be Rs 35,000, and the registration fee at 2%, totaling Rs 10,000. Therefore, the combined cost for stamp duty and registration fee would be Rs 45,000. 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 Venkateswara Nagar Ph I &ii?

The Sri Venkateswara Nagar Ph I &ii area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vaiyavoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for ensuring compliance with local regulations and for accurate financial planning during property transactions in the area. It helps in assessing the legal obligations associated with property ownership and transfer.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar Ph I &ii?

The current guideline value of Sri Venkateswara Nagar Ph I &ii is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023. The current value remains unchanged from 2023.

What is the land classification for Sri Venkateswara Nagar Ph I &ii?

The land classification for Sri Venkateswara Nagar Ph I &ii is Mixed Type - II.

Which Sub Registrar Office handles registrations for this area?

The Madurandakam Sub Registrar Office handles registrations for Sri Venkateswara Nagar Ph I &ii, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Venkateswara Nagar Ph I &ii?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft would incur a total guideline value of Rs 5,00,000, leading to a stamp duty of Rs 35,000 and a registration fee of Rs 10,000.