Guideline Value for SRI VENKATESWARA NAGAR

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO and is 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. The oldest recorded revision is from 2017, where the value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for this area is Rs 880 per sq.ft, which is equal to the current value of Sri Venkateswara Nagar.

• Sri Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Sri Vinayaka Avenue (540/4): Rs 990 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 770 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Ranganathapuram Colony I to III: Rs 880 per sq.ft (2024)
• SriRanganathapuram Colony: Rs 440 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark for the transaction. The buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for properties in Sri Venkateswara Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 79,200.

Which office handles property registrations in Sri Venkateswara Nagar?

The Padappai Sub Registrar Office handles property registrations for Sri Venkateswara Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the land classification for Sri Venkateswara Nagar?

Sri Venkateswara Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.