Guideline Value for Sri Vengateshwarar Nagar

Sri Vengateshwarar Nagar guideline value

The current guideline value of Sri Vengateshwarar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class II Type - II.

How the guideline value of Sri Vengateshwarar Nagar has changed

The guideline value for Sri Vengateshwarar Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. The significant changes include a 49% increase from 2017 to 2023 and an 8% increase from 2023 to 2024.

Guideline values in 5. Athipattu

In 5. Athipattu, the guideline values for the 119 streets under the Konnur SRO range from Rs 1,100 to Rs 7,650 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sri Vengateshwarar Nagar is below this median.

• Sri Subam Nagar: Rs 4,400 per sq.ft (2024)
• Tamilnadu small scale Industries Owners Assn. Layout: Rs 3,601 per sq.ft (2024)
• Sri Jeyaraj Nagar(Chelliamman Nagar Extension): Rs 3,500 per sq.ft (2024)
• Sri Ganesh Street: Rs 2,200 per sq.ft (2024)
• Thamarabarani Street(ICF): Rs 2,400 per sq.ft (2024)
• Thamarai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vengateshwarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vengateshwarar Nagar?

Sri Vengateshwarar Nagar falls under the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a critical factor in the registration process when buying or selling property in 5. Athipattu. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

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 duties and fees. This ensures that the government receives the appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of Sri Vengateshwarar Nagar?

The current guideline value of Sri Vengateshwarar Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024. This represents an overall increase of 62% over the seven-year period.

What are the other streets in 5. Athipattu and their guideline values?

Other streets in 5. Athipattu include Sri Subam Nagar at Rs 4,400 per sq.ft, Tamilnadu small scale Industries Owners Assn. Layout at Rs 3,601 per sq.ft, and Sri Jeyaraj Nagar at Rs 3,500 per sq.ft, among others.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft incurs a total fee of Rs 1,17,000.