Guideline Value for Sri Vengatesvera Nagar

Sri Vengatesvera Nagar guideline value

The current guideline value of Sri Vengatesvera Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Vengatesvera Nagar has changed

The guideline value for Sri Vengatesvera Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 1,500 per sq.ft in the 2023 revision, and then increased by 7% to reach the current value of Rs 1,600 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Puthagaram

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

• Sri Vengagasai Nagar: Rs 2,201 per sq.ft (2024)
• Sri Vengadasai Nagar Anex: Rs 2,201 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 Vengatesvera Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. Please note that 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 information.

Which Sub Registrar Office covers Sri Vengatesvera Nagar?

Sri Vengatesvera Nagar is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is important for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Vengatesvera Nagar?

The current guideline value of Sri Vengatesvera Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Sri Vengatesvera Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers the area?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.