Guideline Value for Sri Venkateshwara Nagar

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar, located in Moovarasampattu village under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area 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 seen significant changes over the years. The earliest recorded value in 2002 was Rs 102 per sq.ft, which increased to Rs 113 per sq.ft in 2003. Following this, the value surged to Rs 650 per sq.ft in 2007, marking a 475% increase. In 2012, the value adjusted to Rs 3,000 per sq.ft, reflecting a decrease of 33%. The 2017 revision set the value at Rs 2,010 per sq.ft, and by 2023, it rose to Rs 3,000 per sq.ft. The latest revision in 2024 has established the current value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3135%. The register has no figures for the years not mentioned in the provided data.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value for Sri Venkateshwara Nagar matches this median.

• Thamirabarani Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Sindhu Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Thungapathira Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Vaigai Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Sababathi Nagar Main: Rs 3,300 per sq.ft (2024)
• Sababathi Nagar 4th Street: Rs 3,300 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 rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Sri Venkateshwara Nagar?

The Sub Registrar Office that covers Sri Venkateshwara Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the transaction is in line with government regulations, providing transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 102 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 3135%.

What are the stamp duty rates for properties in Sri Venkateshwara Nagar?

The stamp duty rate for properties in Sri Venkateshwara Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Venkateshwara Nagar?

The Sub Registrar Office for Sri Venkateshwara Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Moovarasampattu?

The guideline value for properties in Moovarasampattu is determined by the Registration Department and is based on various factors, including land classification and market conditions. It is updated periodically to reflect changes in the area.