Guideline Value for VEERA VENKAT NAGAR

Veera Venkat Nagar guideline value

The current guideline value of Veera Venkat Nagar is Rs 501 per sq.ft, effective from 1 July 2024. This street is located in Thadaperumbakkam village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Veera Venkat Nagar has changed

In the 2023 revision, the guideline value was set at Rs 200 per sq.ft. The most recent revision in 2024 saw a significant increase to Rs 501 per sq.ft, marking a change of +151%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

This increase reflects the current valuation trends in the area, with the 2024 figure aligning with the median guideline value of Rs 501 per sq.ft for the 50 streets in Thadaperumbakkam under the Ponneri SRO.

Guideline values in Thadaperumbakkam

Within Thadaperumbakkam, the guideline values range from Rs 500 to Rs 1,500 per sq.ft, with the median being Rs 501 per sq.ft. Veera Venkat Nagar's 2024 figure matches this median. Other streets in Thadaperumbakkam include:

• Velavan Nagar: Rs 501 per sq.ft (2024)
• Venkatapathi Naidu Nagar: Rs 501 per sq.ft (2024)
• Subbu Lakshmi Ammal Nagar: Rs 1,500 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 501 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 501 per sq.ft (2024)
• Sri Sai Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Veera Venkat Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value would be Rs 5,01,000. The stamp duty at 7% would amount to Rs 35,070, and the registration fee at 2% would be Rs 10,020, making the total fees Rs 45,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veera Venkat Nagar?

The Sub Registrar Office that covers Veera Venkat Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thadaperumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure that the transaction is compliant with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veera Venkat Nagar?

The current guideline value of Veera Venkat Nagar is Rs 501 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 501 per sq.ft in 2024, reflecting a change of +151%.

What is the classification of land in Veera Venkat Nagar?

Veera Venkat Nagar is classified as Residential Class II Type - I.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 45,090.