Guideline Value for Sri Venkateshwara Nagar

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar, located in Keelakazhani village, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Venkateshwara Nagar has changed

The guideline value for Sri Venkateshwara Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 225 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, there was a decrease in the 2017 revision, bringing the value down to Rs 469 per sq.ft. The 2023 revision maintained the value at Rs 700 per sq.ft, and the current 2024 revision also remains at Rs 700 per sq.ft. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The significant jump from 2007 to 2012 was an increase of 211%. Overall, from 2007 to 2024, the guideline value has increased by 211%.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with the median being Rs 700 per sq.ft. Sri Venkateshwara Nagar's 2024 guideline value aligns perfectly with this median.

• Sri Selva Vinayagar Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 600 per sq.ft (2024)
• S.V.P. Lingam Nagar: Rs 700 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 600 per sq.ft (2024)
• Sri Paramaswamy Nagar: Rs 800 per sq.ft (2024)
• Teachers Saibaba Garden: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 information.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

Sri Venkateshwara Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Keelakazhani. It serves as a benchmark for determining the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the necessary fees, which are based on the higher value between the guideline value and the sale price. This ensures that the transaction is accurately recorded and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 700 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 revisions being Rs 700 per sq.ft in both 2023 and 2024, and it was Rs 469 per sq.ft in 2017.

What is the land classification of Sri Venkateshwara Nagar?

Sri Venkateshwara Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Sri Venkateshwara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 49,000.