Guideline Value for Sri Venkata Narayana Nagar

Sri Venkata Narayana Nagar guideline value

The current guideline value of Sri Venkata Narayana Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Sri Venkata Narayana Nagar has changed

The guideline value for Sri Venkata Narayana Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,010 per sq.ft. This was followed by the 2023 revision, which increased the guideline value to Rs 3,000 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 saw another increase to Rs 3,300 per sq.ft, reflecting a 10% change from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The current guideline value of Rs 3,300 per sq.ft is above the median value of Rs 2,200 per sq.ft for the 144 streets in Kerugambakkam under the Pammal SRO.

Guideline values in Kerugambakkam

In Kerugambakkam, the guideline values for various streets range from Rs 1,100 to Rs 4,800 per sq.ft as per the 2024 revision. Sri Venkata Narayana Nagar's current value of Rs 3,300 per sq.ft is above the median value of Rs 2,200 per sq.ft.

• Sri Puram: Rs 1,980 per sq.ft (2024)
• Surrya Enclave: Rs 1,760 per sq.ft (2024)
• Sri Lakshmi Nagar (ward 5): Rs 2,750 per sq.ft (2024)
• Sri Lakshmi Nagar Extn.: Rs 2,750 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamaladevi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkata Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkata Narayana Nagar?

The Sub Registrar Office that covers Sri Venkata Narayana Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Venkata Narayana Nagar?

The current guideline value of Sri Venkata Narayana Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64%.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Sri Venkata Narayana Nagar?

The Pammal Sub Registrar Office handles property registrations for Sri Venkata Narayana Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Sri Venkata Narayana Nagar?

The land classification for Sri Venkata Narayana Nagar is Commercial Special Type - I.