Guideline Value for SRI VENKATESWARA NAGAR

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Ikkadu village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Class II 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. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, where it again stood at Rs 400 per sq.ft. The 2017 revision marked a significant increase to Rs 268 per sq.ft, reflecting a 49% rise from the previous revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows no increase, as the value remains at Rs 400 per sq.ft. The latest revision in 2024 indicates that the guideline value has stabilized, with no percentage change from the previous year.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, making Sri Venkateswara Nagar's guideline value equal to this median.

• Sri Sai Nagar: Rs 500 per sq.ft (2024)
• Sundar Raj Nagar: Rs 200 per sq.ft (2024)
• Srinivasa Nagar Annex: Rs 402 per sq.ft (2024)
• Swathi Nagar: Rs 1,400 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar Extension: Rs 335 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sri Venkateswara Nagar area is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the government receives the correct amount of duty based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a notable increase to Rs 268 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007.

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

The stamp duty for property in Sri Venkateswara Nagar is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty amounts to Rs 28,000.

Which office handles property registrations in Sri Venkateswara Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Sri Venkateswara Nagar. The office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the median guideline value in Ikkadu?

The median guideline value in Ikkadu is Rs 400 per sq.ft, which is the same as the current guideline value for Sri Venkateswara Nagar.