Guideline Value for Sri Vengagasai Nagar

Sri Vengagasai Nagar guideline value

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

How the guideline value of Sri Vengagasai Nagar has changed

The guideline value for Sri Vengagasai Nagar 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 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,201 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The 2023 to 2024 revision saw a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 1,900 per sq.ft, making the current value of Sri Vengagasai Nagar above the median.

• Sri Vengadasai Nagar Anex: 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 Vengagasai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,201 per sq.ft, the total guideline value would be Rs 22,01,000. The stamp duty at 7% would amount to Rs 1,54,070, while the registration fee at 2% would be Rs 44,020. Therefore, the total cost for stamp duty and registration would be Rs 1,98,090. Please 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 details.

Which Sub Registrar Office covers Sri Vengagasai Nagar?

The Sub Registrar Office that covers Sri Vengagasai 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 Puthagaram

The guideline value is a crucial factor when registering property in Puthagaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Sri Vengagasai Nagar?

The current guideline value of Sri Vengagasai Nagar 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 increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,201 per sq.ft in 2024.

What is the land classification of Sri Vengagasai Nagar?

Sri Vengagasai Nagar is classified as Mixed Type - I land under the Ambattur SRO.

What are the registration fees applicable in Sri Vengagasai Nagar?

For a property valued at Rs 22,01,000, the stamp duty would be Rs 1,54,070 and the registration fee would be Rs 44,020, totaling Rs 1,98,090.

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

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