Guideline Value

Corporate

Guideline Value for Sri Venkateshwara Nagar Extention

₹440/sq.ft.

The guideline value for Sri Venkateshwara Nagar Extention in Sothupakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 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

Sothupakkam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
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 Venkateshwara Nagar Extention

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Sri Venkateshwara Nagar Extention guideline value

The current guideline value for Sri Venkateshwara Nagar Extention is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sothupakkam village and falls under the jurisdiction of the Redhills SRO. The land classification is Residential Class II Type - I.

How the guideline value of Sri Venkateshwara Nagar Extention has changed

Over the years, the guideline value for Sri Venkateshwara Nagar Extention has experienced several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, this figure dropped to Rs 268 per sq.ft in 2017, before climbing significantly to Rs 400 per sq.ft in 2023. The latest revision in 2024 has further increased the guideline value to Rs 440 per sq.ft, marking a 10% rise from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was a notable increase of 49%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 33%. Overall, from 2007 to 2024, the guideline value has risen by 47%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sothupakkam

Sothupakkam village has a total of 49 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 1,150 per sq.ft. The median guideline value for these streets is Rs 440 per sq.ft, which aligns with the current value for Sri Venkateshwara Nagar Extention.

Stamp duty and registration fee for property in Sri Venkateshwara Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, and the registration fee, at 2%, would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateshwara Nagar Extention?

The Sub Registrar Office that covers Sri Venkateshwara Nagar Extention is 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 information.

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

The guideline value plays a crucial role during property transactions in Sothupakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The value is assessed based on the current rates set by the registration department, ensuring that all transactions are in line with government regulations.

When engaging in a property transaction, it is essential to consider the guideline value as it affects the overall cost of registration. Buyers and sellers must be aware of the current rates to ensure compliance and avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar Extention?

The current guideline value of Sri Venkateshwara Nagar Extention is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. The value has seen fluctuations, including a drop from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017.

What is the registration office for Sri Venkateshwara Nagar Extention?

The registration office for Sri Venkateshwara Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Venkateshwara Nagar Extention?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty at 7% would be Rs 30,800.

What is the land classification for Sri Venkateshwara Nagar Extention?

The land classification for Sri Venkateshwara Nagar Extention is Residential Class II Type - I, indicating its suitability for residential development.