Guideline Value for Sri Venkatesa Nagar

Sri Venkatesa Nagar guideline value

The current guideline value for Sri Venkatesa Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam 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 several revisions over the years. In 2003, the guideline value was Rs 285 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a significant rise of 146%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable increase of 257%. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an increase of 61% from 2017.

It is important to note that the register has no figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 847%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sri Venkatesa Nagar is below this median.

• Sri Venkatajalapathi Nagar: Rs 2,700 per sq.ft (2024)
• Sri Vel Murugan Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Venkatesa Nagar?

Sri Venkatesa Nagar is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, both the buyer and seller should be aware of the guideline value, as it can influence negotiations and the final sale price. The guideline value is also essential for legal documentation and property registration processes.

Frequently asked questions

What is the current guideline value of Sri Venkatesa Nagar?

The current guideline value of Sri Venkatesa Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 285 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 847% over the years.

What is the land classification for Sri Venkatesa Nagar?

Sri Venkatesa Nagar is classified as Residential Class II Type - I according to the land classification standards.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registration for Sri Venkatesa Nagar?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registration for Sri Venkatesa Nagar.