Guideline Value for Sri Venkateswara Nagar

Sri Venkateswara Nagar guideline value

The current guideline value of Sri Venkateswara Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO. The land classification for this locality is Residential Special 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. Starting from the 2003 revision, the guideline value was Rs 39 per sq.ft. This saw a significant increase to Rs 1,136 per sq.ft in 2007, marking a change of +2,813%. The value then rose to Rs 1,800 per sq.ft in 2012, which was a decrease of -33% from the previous revision. In 2017, the guideline value increased to Rs 1,206 per sq.ft, followed by a substantial rise to Rs 1,800 per sq.ft in 2023, representing an increase of +49%. The current revision in 2024 has set the guideline value at Rs 2,000 per sq.ft, reflecting an increase of +11% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from the 2003 revision to the current 2024 revision, there has been a remarkable increase of +5,028% in the guideline value.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sri Venkateswara Nagar's 2024 figure above this median.

• Srivasapuram Main Road: Rs 1,750 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 1,650 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,550 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,600 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,550 per sq.ft (2024)
• Srinivasa Nagar Annexe: Rs 2,000 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty is charged at 7%, which totals Rs 1,40,000, and the registration fee is 2%, amounting to Rs 40,000. Together, these fees total Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Venkateswara Nagar?

The Sub Registrar Office that covers Sri Venkateswara Nagar is 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 Srinivasapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Sri Venkateswara Nagar. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When you register a property, the guideline value is used to assess the applicable fees, which are calculated on the higher of the guideline value or the sale price. This ensures that the registration process remains transparent and consistent across different transactions.

Frequently asked questions

What is the current guideline value of Sri Venkateswara Nagar?

The current guideline value of Sri Venkateswara Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 39 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of +5,028% over this period.

What is the median guideline value in Srinivasapuram?

The median guideline value for the 39 streets in Srinivasapuram under the Kunrathur SRO is Rs 1,650 per sq.ft, with Sri Venkateswara Nagar's value above this median.

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

For a property valued at Rs 20,00,000, the stamp duty is Rs 1,40,000 and the registration fee is Rs 40,000, totaling Rs 1,80,000.

Which office handles the registration for Sri Venkateswara Nagar?

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