Guideline Value for Sri Venkateshwara Nagar

Sri Venkateshwara Nagar guideline value

The current guideline value of Sri Venkateshwara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai 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. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,200 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, placing Sri Venkateshwara Nagar above this median.

• Sri Velan Nagar: Rs 830 per sq.ft (2024)
• Sri Thanthoniyamman Nagar: Rs 830 per sq.ft (2024)
• S S R Avenue: Rs 830 per sq.ft (2024)
• Sri Solai Nagar: Rs 1,320 per sq.ft (2024)
• Srishti Garden: Rs 990 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 830 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Nagar?

The current guideline value of Sri Venkateshwara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the stamp duty rate in Padappai?

The stamp duty rate in Padappai is 7% of the guideline value or the sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Padappai?

The median guideline value for streets in Padappai is Rs 830 per sq.ft, with Sri Venkateshwara Nagar's current value being above this median.