Guideline Value for Sri Venkatesh Nagar

Sri Venkatesh Nagar guideline value

The current guideline value of Sri Venkatesh Nagar, located in Perumbakkam village, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which falls under the Madurandakam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Venkatesh Nagar has changed

The guideline value for Sri Venkatesh Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 20 per sq.ft, which increased to Rs 70 per sq.ft in 2012. However, there was a decline to Rs 47 per sq.ft in 2017. From 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, and it remained unchanged at Rs 100 per sq.ft in the 2024 revision.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Perumbakkam

In Perumbakkam, there are five streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Sri Venkatesh Nagar at this median value.

• Sri Sai Prithivi Nagar: Rs 100 per sq.ft (2024)
• Sri Ram Nagar: Rs 103 per sq.ft (2024)
• Periyar Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkatesh Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Sri Venkatesh Nagar?

The Sub Registrar Office that covers Sri Venkatesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Venkatesh Nagar?

The current guideline value of Sri Venkatesh Nagar is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 20 per sq.ft to Rs 100 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

Where can I find the registration office for Sri Venkatesh Nagar?

The registration office for Sri Venkatesh Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu zone.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft incurs a total fee of Rs 9,000.

What other streets have guideline values in Perumbakkam?

Other streets in Perumbakkam include Sri Sai Prithivi Nagar, Sri Ram Nagar, Periyar Nagar, and Sri Nagar, with guideline values ranging from Rs 100 to Rs 400 per sq.ft in 2024.