Guideline Value for Sri Venkatesvara Nagar

Sri Venkatesvara Nagar guideline value

The current guideline value of Sri Venkatesvara Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Venkatesvara Nagar has changed

Over the years, the guideline value of Sri Venkatesvara Nagar has seen various revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, the value increased significantly in the following revisions, reaching Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, resulting in a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same at Rs 1,000 per sq.ft.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with the median being Rs 1,000 per sq.ft. Sri Venkatesvara Nagar's 2024 guideline value is equal to this median.

• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• TGM Nagar: Rs 850 per sq.ft (2024)
• Thirumalai Govinthan Nagar: Rs 750 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)
• Sri AathiBakavathi Nagar: Rs 800 per sq.ft (2024)
• Sree Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkatesvara Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Venkatesvara Nagar?

The Chengleput Joint I Sub Registrar Office covers Sri Venkatesvara Nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring compliance with local regulations.

When buying or selling property, it is essential to consider the guideline value, as it influences the total cost involved in the transaction. Buyers and sellers should be aware of the current guideline value to accurately assess their financial commitments.

Frequently asked questions

What is the current guideline value of Sri Venkatesvara Nagar?

The current guideline value of Sri Venkatesvara Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase being from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 and 2024. Overall, the value remains the same as it was in 2012.

What are the guideline values of other streets in Vallam?

Other streets in Vallam have varying guideline values, ranging from Rs 750 to Rs 1,000 per sq.ft, with Sri Venkatesvara Nagar's value being equal to the median of Rs 1,000 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 90,000.

Which office handles the registration for Sri Venkatesvara Nagar?

The Chengleput Joint I Sub Registrar Office handles the registration for Sri Venkatesvara Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.