Guideline Value for SRI VENKATESWARA NAGAR PHASE-I

Sri Venkateswara Nagar Phase-I guideline value

The current guideline value of Sri Venkateswara Nagar Phase-I is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village and falls under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of Sri Venkateswara Nagar Phase-I has changed

The guideline value for Sri Venkateswara Nagar Phase-I has remained stable at Rs 500 per sq.ft since the 2023 revision, which also recorded the same value. Prior to this, in 2017, the guideline value was Rs 335 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also had a guideline value of Rs 500 per sq.ft, indicating a decrease of 33% from the 2012 to 2017 period.

Looking further back, the register has no figures for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft, with the median also being Rs 500 per sq.ft. Sri Venkateswara Nagar Phase-I's 2024 guideline value aligns with this median.

• Surya Nagar: Rs 500 per sq.ft (2024)
• Sivasakthi Nagar Extn: Rs 500 per sq.ft (2024)
• Sivasakthi Nagar: Rs 500 per sq.ft (2024)
• Velavan Nagar: Rs 500 per sq.ft (2024)
• SaiRam nagar: Rs 500 per sq.ft (2024)
• Kannan Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total fees to 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 Phase-I?

The Sub Registrar Office that covers Sri Venkateswara Nagar Phase-I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Ammanambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar Phase-I?

The current guideline value of Sri Venkateswara Nagar Phase-I 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 the 2023 revision. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, indicating fluctuations in previous years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Sri Venkateswara Nagar Phase-I is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Venkateswara Nagar Phase-I is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined for properties in Ammanambakkam?

The guideline value for properties in Ammanambakkam is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in land classification and market conditions.