Guideline Value for Sri Venkateswara Nagar I, II, III,

Sri Venkateswara Nagar I, II, III, guideline value

The current guideline value for Sri Venkateswara Nagar I, II, III, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Sri Venkateswara Nagar I, II, III, has changed

In the 2007 revision, the guideline value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a 367% rise. However, the value then decreased to Rs 938 per sq.ft in 2017, reflecting a drop of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 1,800 per sq.ft, which was a 92% rise. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Chikkarayapuram

Chikkarayapuram has a total of 61 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is the same as the guideline value for Sri Venkateswara Nagar I, II, III.

• Sri Thangam Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sri Thangam Avenue: Rs 1,760 per sq.ft (2024)
• Sri Sayee Nagar Extension: Rs 2,090 per sq.ft (2024)
• Subbiya Nagar: Rs 1,980 per sq.ft (2024)
• Subramani Nagar: Rs 1,980 per sq.ft (2024)
• Sueelambal Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar I, II, III,

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateswara Nagar I, II, III,?

The Sri Venkateswara Nagar I, II, III, area falls under the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Chikkarayapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Sri Venkateswara Nagar I, II, III?

The current guideline value for Sri Venkateswara Nagar I, II, III, is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 560% over the years.

What is the land classification for Sri Venkateswara Nagar I, II, III?

Sri Venkateswara Nagar I, II, III, is classified as Mixed Special Type - I. This classification can affect the usage and development potential of the land.

Where can I find the registration office for this area?

The registration office for Sri Venkateswara Nagar I, II, III, is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. A calculator is available to assist with these calculations, ensuring accurate estimations of the total fees involved in property transactions.