Guideline Value for Sri Venkateswara Nagar

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar, located in Valarpuram village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Venkateswara Nagar has changed

The guideline value for Sri Venkateswara Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 40 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, reflecting a remarkable increase of 900%. However, in the subsequent revision in 2017, the value dropped to Rs 268 per sq.ft, marking a decrease of 33%. The value remained unchanged at Rs 400 per sq.ft in both the 2023 and 2024 revisions, indicating a stable market in recent years.

Notably, there are no figures recorded for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2007 to 2024 is a substantial 900% increase.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Sri Venkateswara Nagar is above this median.

• Sri Vigneswara Nagar: Rs 400 per sq.ft (2024)
• Sri Venkatachalapathy Annex: Rs 400 per sq.ft (2024)
• Sri Varadharajan Nagar: Rs 400 per sq.ft (2024)
• S.S.A. Nagar: Rs 300 per sq.ft (2024)
• SSV Nagar: Rs 300 per sq.ft (2024)
• Subham: Rs 700 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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?

The Sub Registrar Office covering 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 Valarpuram

The guideline value is a crucial factor in the registration process when buying or selling property in Valarpuram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most significant increase occurring from Rs 40 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, a 900% rise. The value has remained stable at Rs 400 per sq.ft since 2012, with no changes in 2023 and 2024.

What is the land classification of Sri Venkateswara Nagar?

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

Where can I find 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.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft would incur a stamp duty of Rs 28,000.