Guideline Value for Sri Vengadasai Nagar Anex

Sri Vengadasai Nagar Anex guideline value

The current guideline value of Sri Vengadasai Nagar Anex is Rs 2,201 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of Sri Vengadasai Nagar Anex has changed

The guideline value for Sri Vengadasai Nagar Anex has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and then to Rs 2,201 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 reflected a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The current figure of Rs 2,201 per sq.ft is indicative of the ongoing adjustments in property values in the region.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Sri Vengadasai Nagar Anex above this median value.

• Sri Vengagasai Nagar: Rs 2,201 per sq.ft (2024)
• Sri Vengatesvera Nagar: Rs 1,600 per sq.ft (2024)
• Sri Venkata Sai Nagar Extn: Rs 2,201 per sq.ft (2024)
• Sri Venkateswara Nagar Extn: Rs 1,600 per sq.ft (2024)
• Sri Singaravelavan Nagar: Rs 1,800 per sq.ft (2024)
• Sri Sarweswari Avenu: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vengadasai Nagar Anex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,201 per sq.ft, the total guideline value amounts to Rs 22,01,000. The stamp duty, charged at 7%, would be Rs 1,54,070, while the registration fee at 2% would be Rs 44,020. Together, the total cost for stamp duty and registration would be Rs 1,98,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vengadasai Nagar Anex?

The Sub Registrar Office that covers Sri Vengadasai Nagar Anex 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 Puthagaram

The guideline value is a crucial factor when registering property transactions in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate fees during the registration process.

Frequently asked questions

What is the current guideline value of Sri Vengadasai Nagar Anex?

The current guideline value of Sri Vengadasai Nagar Anex is Rs 2,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,201 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, the total cost for these fees would be Rs 1,98,090.

Which office handles property registrations in Sri Vengadasai Nagar Anex?

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

What is the land classification of Sri Vengadasai Nagar Anex?

Sri Vengadasai Nagar Anex falls under the Mixed Type - I land classification, which allows for a variety of uses.