Guideline Value for Sri Venkateshwara Nagar

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 1,200 per sq.ft, effective from the 2024 revision. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Class I 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 2002, the value was Rs 77 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a change of +326%. The value then rose to Rs 1,200 per sq.ft in 2012, reflecting an increase of +266%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a decline of -33%. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the current 2024 revision also holds it at Rs 1,200 per sq.ft, indicating no change from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +1458%. It is important to note that there is no figure available for the year 2003 in the register for this street.

Guideline values in Nandhivaram

Nandhivaram village has 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value across these streets is Rs 1,500 per sq.ft, placing Sri Venkateshwara Nagar's 2024 figure below this median.

• Sri Venkateshwara Nagar Extn.: Rs 1,200 per sq.ft (2024)
• Sri Vari Nagar: Rs 1,500 per sq.ft (2024)
• Sri Valli Nagar: Rs 1,500 per sq.ft (2024)
• Sterling Little Flowers: Rs 3,500 per sq.ft (2024)
• Sri Sangara Avenue: Rs 1,000 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

The Sri Venkateshwara Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers must be aware of the current guideline value as it influences the overall cost of registration.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are transparent and comply with legal requirements, safeguarding the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 1,200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 77 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, an overall increase of +1458%.

What are the stamp duty and registration fees for property in Sri Venkateshwara Nagar?

For a property valued at Rs 12,00,000, the stamp duty is Rs 84,000, and the registration fee is Rs 24,000, totaling Rs 1,08,000.

Which office handles registrations for Sri Venkateshwara Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Sri Venkateshwara Nagar, located near the Veterinary Hospital in Nandhivaram.

What is the land classification for Sri Venkateshwara Nagar?

Sri Venkateshwara Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.