Guideline Value

Corporate

Guideline Value for Sri Venkatesa Nagar

₹660/sq.ft.

The guideline value for Sri Venkatesa Nagar in Sholavaram village (Redhills SRO, Chennai zone) is Rs 660 per sq.ft, effective 1 July 2024. It was Rs 600 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹660 /sq.ft.
From 1-4-2023 ₹600 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹402 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹600 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹23 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Venkatesa Nagar

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Sri Venkatesa Nagar guideline value

The current guideline value of Sri Venkatesa Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Venkatesa Nagar has changed

The guideline value for Sri Venkatesa Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 23 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value doubled to Rs 600 per sq.ft in 2012, but then decreased by 33% to Rs 402 per sq.ft in 2017. The value rose again to Rs 600 per sq.ft in 2023, and finally increased by 10% to the current Rs 660 per sq.ft in 2024. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 2770%. The changes between revisions include a 1204% increase from 2003 to 2007, a 100% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the 2024 figure for Sri Venkatesa Nagar. Below are the guideline values for other streets in Sholavaram:

Stamp duty and registration fee for property in Sri Venkatesa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkatesa Nagar?

Sri Venkatesa Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Sholavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that all transactions are accounted for fairly and transparently.

Frequently asked questions

What is the current guideline value of Sri Venkatesa Nagar?

The current guideline value of Sri Venkatesa Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 23 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting a significant overall increase of 2770% over this period.

What are the other streets in Sholavaram and their guideline values?

Other streets in Sholavaram include Sri Vinayaga Avenue and Sri Shanmuga Nagar at Rs 550 per sq.ft, Sri Sai Ram Nagar at Rs 1,650 per sq.ft, and Sri Ragavendra Modern Town at Rs 660 per sq.ft, among others.

What fees are associated with buying property in Sri Venkatesa Nagar?

When buying property in Sri Venkatesa Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registration for Sri Venkatesa Nagar?

The Redhills Sub Registrar Office handles property registration for Sri Venkatesa Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.