Guideline Value for Sri Venkateswara Nagar

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This locality is situated in Vaipoor village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Venkateswara Nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. Following this, the value increased by 50% in the 2023 revision, returning to Rs 250 per sq.ft. The current 2024 revision maintains this figure, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline value history for Sri Venkateswara Nagar includes the revisions from 2012, 2017, 2023, and 2024.

Guideline values in Vaipoor

In Vaipoor village, there are 9 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current rate for Sri Venkateswara Nagar.

• Selliyamman Koil Street: Rs 250 per sq.ft (2024)
• Ragallamman Kovil Street: Rs 250 per sq.ft (2024)
• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Mettu Street: Rs 250 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 per sq.ft (2024)
• Mahakavi Bharathiyar Nagar Stage I & II: Rs 300 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, 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 Vaipoor

The guideline value is a crucial factor in the registration process when buying or selling property in Vaipoor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are proportionate to the property's worth.

When a property is sold, the guideline value serves as a benchmark to assess the transaction value. If the sale price is higher than the guideline value, the stamp duty is applied to the sale price instead.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 250 per sq.ft in both 2023 and 2024. The value decreased to Rs 167 per sq.ft in 2017 from Rs 250 per sq.ft in 2012.

What are the stamp duty and registration fees for buying property in Sri Venkateswara Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Sri Venkateswara Nagar?

The Sunguvarchattram Sub Registrar Office covers Sri Venkateswara Nagar. It is located on Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

Are there other streets in Vaipoor with similar guideline values?

Yes, there are several other streets in Vaipoor with guideline values of Rs 250 per sq.ft, including Selliyamman Koil Street, Ragallamman Kovil Street, Perumal Kovil Street, Mettu Street, and Mariamman Kovil Street. Mahakavi Bharathiyar Nagar Stage I & II has a higher rate of Rs 300 per sq.ft.