Guideline Value for VENGATESWARA NAGAR (190/1a/1a2b/1b)

VENGATESWARA NAGAR (190/1a/1a2b/1b) guideline value

The current guideline value for VENGATESWARA NAGAR (190/1a/1a2b/1b) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village and falls under the Madurandakam SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of VENGATESWARA NAGAR (190/1a/1a2b/1b) has changed

The guideline value for VENGATESWARA NAGAR has undergone several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 300% rise. However, the value decreased to Rs 670 per sq.ft in the 2017 revision, reflecting a 33% drop. The following revision in 2023 brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,100 per sq.ft, a 10% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 340%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for this area is Rs 1,100 per sq.ft, which is equal to the current guideline value of VENGATESWARA NAGAR.

• Vedhachalam Nagar: Rs 555 per sq.ft (2024)
• Vanniyar Pettai Otthavaadai Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Narayanan Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Kamban Street: Rs 555 per sq.ft (2024)
• Vanniayar Pettai Bhagavath Singh Street: Rs 1,110 per sq.ft (2024)
• Vannia Mettu Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in VENGATESWARA NAGAR (190/1a/1a2b/1b)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that 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 details.

Which Sub Registrar Office covers VENGATESWARA NAGAR (190/1a/1a2b/1b)?

The Sub Registrar Office that covers VENGATESWARA NAGAR is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of VENGATESWARA NAGAR?

The current guideline value of VENGATESWARA NAGAR (190/1a/1a2b/1b) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification for VENGATESWARA NAGAR?

The land classification for VENGATESWARA NAGAR is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for VENGATESWARA NAGAR?

The registration office for VENGATESWARA NAGAR is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in VENGATESWARA NAGAR?

Stamp duty for properties in VENGATESWARA NAGAR is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.