Guideline Value for Sri Venkateswara Nagar Extn

Sri Venkateswara Nagar Extn guideline value

The current guideline value of Sri Venkateswara Nagar Extn is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village and falls under the Ambattur Sub Registrar Office. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Venkateswara Nagar Extn has changed

The guideline value for Sri Venkateswara Nagar Extn has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. This was a decline of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in 2023, marking an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, and the guideline value for Sri Venkateswara Nagar Extn is below this median.

• Sri Venkata Sai Nagar Extn: Rs 2,201 per sq.ft (2024)
• Sri Vengatesvera Nagar: Rs 1,600 per sq.ft (2024)
• Sri Vengagasai Nagar: Rs 2,201 per sq.ft (2024)
• Sri Vengadasai Nagar Anex: Rs 2,201 per sq.ft (2024)
• Sri Singaravelavan Nagar: Rs 1,800 per sq.ft (2024)
• Sri Sarweswari Avenu: Rs 2,200 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the government receives the appropriate taxes based on the property's assessed value. This helps maintain transparency and fairness in property transactions.

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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the other streets in Puthagaram with their guideline values?

Other streets in Puthagaram have varying guideline values, with rates ranging from Rs 1,600 to Rs 2,201 per sq.ft as of 2024.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Sri Venkateswara Nagar Extn?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be calculated at 7% of that amount.