Guideline Value for Sri Vengadeswara Nagar

Sri Vengadeswara Nagar guideline value

The current guideline value of Sri Vengadeswara Nagar is Rs 803 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Sri Vengadeswara Nagar has changed

Since the 2012 revision, the guideline value has seen significant changes. In 2012, the guideline value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, it increased by 200% to reach Rs 803 per sq.ft. The current figure remains the same as the 2023 revision, reflecting no change from that year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Sri Vengadeswara Nagar's 2024 figure below that median.

• S.S. Street: Rs 880 per sq.ft (2024)
• Sri Sastha Nagar: Rs 803 per sq.ft (2024)
• St. Francis Nagar: Rs 880 per sq.ft (2024)
• St Francis Nagar Extention: Rs 1,200 per sq.ft (2024)
• St Josph Nagar: Rs 806 per sq.ft (2024)
• St. Pauls Nagar: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vengadeswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 803 per sq.ft, the total guideline value would be Rs 8,03,000. The stamp duty at 7% would amount to Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total to Rs 72,270. 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 Vengadeswara Nagar?

The Sub Registrar Office that covers Sri Vengadeswara Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Vengadeswara Nagar?

The current guideline value of Sri Vengadeswara Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 803 per sq.ft in 2023 and remains the same in 2024.

What are the other streets in Kovilpathagai and their guideline values?

Other streets in Kovilpathagai include S.S. Street at Rs 880 per sq.ft, Sri Sastha Nagar at Rs 803 per sq.ft, and St. Francis Nagar at Rs 880 per sq.ft, among others.

What is the stamp duty for properties in Sri Vengadeswara Nagar?

The stamp duty for properties in Sri Vengadeswara Nagar is 7% of the guideline value or sale price, whichever is higher. For example, a property with a guideline value of Rs 8,03,000 would incur a stamp duty of Rs 56,210.

Which office handles registrations for Sri Vengadeswara Nagar?

The Ambattur Sub Registrar Office handles registrations for Sri Vengadeswara Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.