Guideline Value for SRI VENKATESWARA NAGAR

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Venkateswara Nagar has changed

The guideline value for Sri Venkateswara Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which was a significant increase of 49% from the previous 2012 figure of Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Looking back further, the 2012 revision showed a decrease of 33% from the 2017 value. Overall, from 2012 to 2024, there has been an increase of 8%, reflecting the current guideline value of Rs 2,700 per sq.ft.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, with rates ranging from Rs 850 to Rs 5,000 per sq.ft. The median value among these streets is Rs 2,150 per sq.ft, placing Sri Venkateswara Nagar's 2024 figure above this median.

• Sri Yogeshwari Nagar I: Rs 1,300 per sq.ft (2024)
• Sri Yogeshwari Nagar II: Rs 1,300 per sq.ft (2024)
• Sri Yogeswara Nagar III: Rs 1,300 per sq.ft (2024)
• S.S. Sabai Colony: Rs 1,900 per sq.ft (2024)
• Sudar Avenue: Rs 2,150 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 1,900 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 guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sub Registrar Office that covers Sri Venkateswara Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor in property transactions in Rajakilpakkam, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value serves as a benchmark for property valuation, ensuring that transactions are conducted transparently and fairly within the established legal framework.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, which was a 49% increase from Rs 2,500 per sq.ft in 2012.

What is the land classification of Sri Venkateswara Nagar?

Sri Venkateswara Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

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

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sri Venkateswara Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.