Guideline Value for Sri Venkateswara Nagar

Sri Venkateswara Nagar guideline value

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

How the guideline value of Sri Venkateswara Nagar has changed

The guideline value for Sri Venkateswara Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is an increase from Rs 1,000 per sq.ft in 2023. This change reflects a rise of 10% from the previous year. Looking further back, the value was Rs 670 per sq.ft in 2017, indicating a substantial increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the only available figures for Sri Venkateswara Nagar are from the revisions in 2017, 2023, and 2024.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 4,270 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which aligns with the current guideline value of Sri Venkateswara Nagar.

• Sri Ram Avenue: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar Extn: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 6): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 5): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 4): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be 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, bringing the total fees together to Rs 99,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

Sri Venkateswara Nagar falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Erandankattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating sale prices to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar 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 increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification of Sri Venkateswara Nagar?

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

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

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

Stamp duty is calculated at 7% of 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.