Guideline Value for Sri Venkateswara Nagar Extn

Sri Venkateswara Nagar Extn guideline value

The current guideline value of Sri Venkateswara Nagar Extn is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of Sri Venkateswara Nagar Extn has changed

The guideline value for Sri Venkateswara Nagar Extn has undergone several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 670 per sq.ft in 2017, reflecting a 33% drop. Following this, the value rose again to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figures for this street in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, making the current value of Sri Venkateswara Nagar Extn below this median.

• Sri Venkateshwarar Nagar: Rs 1,100 per sq.ft (2024)
• Sri Vishnu Nagar: Rs 1,100 per sq.ft (2024)
• Sri Varadaman Nagar: Rs 1,320 per sq.ft (2024)
• Sri Shunmuga Nagar Part I, II: Rs 1,320 per sq.ft (2024)
• Sri Shunmuga Nagar: Rs 1,320 per sq.ft (2024)
• Sri Shumuga Nagar 1st Main Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateswara Nagar Extn?

The Sub Registrar Office that covers Sri Venkateswara Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the transaction. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar Extn?

The current guideline value of Sri Venkateswara Nagar Extn is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 267% over the years.

What is the land classification for Sri Venkateswara Nagar Extn?

Sri Venkateswara Nagar Extn is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Gooduvancheri Sub Registrar Office covers Sri Venkateswara Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mannivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.