Guideline Value for VENBA NAGAR

Venba Nagar guideline value

The current guideline value of Venba Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Industries Type - I.

How the guideline value of Venba Nagar has changed

The guideline value for Venba Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,700 per sq.ft in the 2023 revision, and currently stands at Rs 2,900 per sq.ft from the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 7%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, which matches the current value for Venba Nagar.

• Venba Avenue: Rs 2,900 per sq.ft (2024)
• Velan Nagar: Rs 2,900 per sq.ft (2024)
• Venus Colony: Rs 3,300 per sq.ft (2024)
• Vetri Kargil Nagar: Rs 3,300 per sq.ft (2024)
• Vetri Nagar: Rs 2,700 per sq.ft (2024)
• Vetrivel Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost to Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venba Nagar?

The Sub Registrar Office that covers Venba Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 Chitthalapakkam

The guideline value plays a crucial role in property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees applicable at the time of property registration. Buyers and sellers must consider this value when negotiating sale prices, as it influences the overall cost of the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in real estate dealings. This ensures that the government receives the appropriate revenue through stamp duty and registration fees based on the guideline value.

Frequently asked questions

What is the current guideline value of Venba Nagar?

The current guideline value of Venba Nagar is Rs 2,900 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 2,900 per sq.ft in 2024, up from Rs 2,700 per sq.ft in 2023, and Rs 1,809 per sq.ft in 2017.

What is the median guideline value in Chitthalapakkam?

The median guideline value in Chitthalapakkam for 2024 is Rs 2,900 per sq.ft, which is the same as the guideline value for Venba Nagar.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total guideline value would be Rs 29,00,000, leading to a total cost of Rs 2,61,000 for stamp duty and registration fees combined.

Where is the Sub Registrar Office for Venba Nagar located?

The Sub Registrar Office for Venba Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.