Guideline Value for SRI VENKATESWARA NAGAR

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 104 per sq.ft, effective from 1 July 2024. It is located in Kolathur village under the Pallipattu SRO and classified as Residential Class I 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. In the 2012 revision, the value was set at Rs 90 per sq.ft. This was followed by a decrease to Rs 60 per sq.ft in the 2017 revision. However, the 2023 revision saw a significant increase to Rs 100 per sq.ft, and the most recent 2024 revision has further increased it to Rs 104 per sq.ft, marking a 4% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 16%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathur

In Kolathur, there are 18 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 104 to Rs 150 per sq.ft, with a median value of Rs 104 per sq.ft. Sri Venkateswara Nagar's 2024 value aligns with this median.

• S.P Balu Gardens: Rs 150 per sq.ft (2024)
• Sorakayapet (Thoppu Street): Rs 104 per sq.ft (2024)
• Vaniyar Street: Rs 104 per sq.ft (2024)
• Vannara Street: Rs 104 per sq.ft (2024)
• Vanniyar Street: Rs 104 per sq.ft (2024)
• Saliyar Street: Rs 104 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 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, resulting in a total of Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sub Registrar Office that covers Sri Venkateswara Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2012 to Rs 60 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 104 per sq.ft in 2024.

What is the land classification of Sri Venkateswara Nagar?

Sri Venkateswara Nagar is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sri Venkateswara Nagar?

The Sub Registrar Office for Sri Venkateswara Nagar is located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

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, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 1,04,000, leading to a stamp duty of Rs 7,280.