Guideline Value for Sri Venkateshwara Nagar

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area is located in Ponmar village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sri Venkateshwara Nagar has changed

Over the years, the guideline value of Sri Venkateshwara Nagar has seen several revisions. In the 2007 revision, the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a remarkable rise of 900%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft, which is an increase of 49% from the previous revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street. Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 900%.

Guideline values in Ponmar

Currently, there are no specific village figures available for Ponmar. Sri Venkateshwara Nagar is the only street mentioned under the Gooduvancheri SRO.

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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration fee would be Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

The Sub Registrar Office that covers Sri Venkateshwara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, 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 Ponmar

The guideline value plays a crucial role in property transactions in Ponmar. When a property is bought or sold, the guideline value is used as a reference point for calculating the stamp duty and registration fees. This ensures that the fees are based on a standardized value rather than fluctuating market prices.

During the registration process, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties. This practice helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023.

What is the stamp duty rate for property in Sri Venkateshwara Nagar?

The stamp duty rate for property in Sri Venkateshwara Nagar is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for property transactions?

The registration fee for property transactions in Sri Venkateshwara Nagar is 2% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.