Guideline Value for Thiruvenkatam Nagar

Thiruvenkatam Nagar guideline value

The current guideline value of Thiruvenkatam Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Thiruvenkatam Nagar has changed

The guideline value for Thiruvenkatam Nagar has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 3,200 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value dropped to Rs 2,144 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, and further rose by 10% to the current value of Rs 3,520 per sq.ft in 2024.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 represents an increase of 340% in the guideline value.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, which is equal to the guideline value of Thiruvenkatam Nagar.

• Thirumoorthy Nagar: Rs 3,190 per sq.ft (2024)
• Thiripura Sundari Avenue: Rs 3,520 per sq.ft (2024)
• Vasuki Nagar: Rs 3,520 per sq.ft (2024)
• Venkatesan Nagar: Rs 3,190 per sq.ft (2024)
• Venkatesan Nagar Annuxe: Rs 3,190 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvenkatam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value is Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. 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 Thiruvenkatam Nagar?

The Sub Registrar Office that covers Thiruvenkatam 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 Madanandapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruvenkatam Nagar?

The current guideline value of Thiruvenkatam Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the registration office for Thiruvenkatam Nagar?

The registration office for Thiruvenkatam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty rates for properties in Thiruvenkatam Nagar?

The stamp duty rate for properties in Thiruvenkatam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets in Madanandapuram with different guideline values?

Yes, there are other streets in Madanandapuram with varying guideline values, ranging from Rs 2,530 to Rs 5,830 per sq.ft, with the median being Rs 3,520 per sq.ft.