Guideline Value for SRI VENKATESWARA NAGAR

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Venkateswara Nagar has changed

The guideline value for Sri Venkateswara Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision has maintained this figure at Rs 700 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Sri Venkateswara Nagar.

• Sri Velan Nagar: Rs 2,389 per sq.ft (2024)
• Sri Sakthivelan Nagar: Rs 700 per sq.ft (2024)
• Subramaniapuram: Rs 1,001 per sq.ft (2024)
• Sri Ranga Nagar Part-III: Rs 700 per sq.ft (2024)
• Sri Ranga Nagar: Rs 700 per sq.ft (2024)
• Supreem City: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sub Registrar Office covering Sri Venkateswara Nagar is 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 Kayirambedu

The guideline value is an important factor when buying or selling property in Kayirambedu. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process. The guideline value ensures that the government receives appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price. This practice ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is 0%.

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

Other streets in Kayirambedu include Sri Velan Nagar at Rs 2,389 per sq.ft, Sri Sakthivelan Nagar at Rs 700 per sq.ft, Subramaniapuram at Rs 1,001 per sq.ft, Sri Ranga Nagar Part-III at Rs 700 per sq.ft, Sri Ranga Nagar at Rs 700 per sq.ft, and Supreem City at Rs 1,500 per sq.ft.

What is the stamp duty rate for property transactions in Sri Venkateswara Nagar?

The stamp duty rate for property transactions in Sri Venkateswara Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by using the link to find your SRO.