Guideline Value for Sri Venkateswara Nagar

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar, located in Nallur village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Sri Venkateswara Nagar has changed

Over the years, the guideline value for Sri Venkateswara Nagar has experienced several revisions. In the 2012 revision, the value was Rs 350 per sq.ft, which was a decrease of 33% from Rs 234 per sq.ft in the 2017 revision. The 2017 revision saw a significant increase of 50%, bringing the value to Rs 350 per sq.ft in the 2023 revision. The 2024 revision maintains this value at Rs 350 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes noted are only between the revisions that have figures available.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, positioning Sri Venkateswara Nagar above this median.

• Sri Sastha Nagar: Rs 350 per sq.ft (2024)
• Sriperumpudur Kundrathur Road: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar Part-II: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar Part-I: Rs 250 per sq.ft (2024)
• Thirupathy Nagar: Rs 175 per sq.ft (2024)
• Sri Balaji Nagar: Rs 250 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total cost for these fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sub Registrar Office that covers Sri Venkateswara Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 350 per sq.ft in both 2023 and 2024. The value was Rs 234 per sq.ft in 2017 and Rs 350 per sq.ft in 2012, reflecting a 50% increase from 2017 to 2023.

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

Other streets in Nallur include Sri Sastha Nagar at Rs 350 per sq.ft, Sriperumpudur Kundrathur Road at Rs 500 per sq.ft, and several others ranging from Rs 175 to Rs 250 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees amount to Rs 31,500.

Where is the Sub Registrar Office for Sri Venkateswara Nagar?

The Sub Registrar Office for Sri Venkateswara Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.