Guideline Value for VENKADESWARA NAGAR

Venkadeswara Nagar guideline value

The current guideline value of Venkadeswara Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venkadeswara Nagar has changed

The guideline value for Venkadeswara Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 440 per sq.ft, an increase from Rs 400 per sq.ft in 2023, marking a 10% rise. Prior to that, the value was Rs 268 per sq.ft in 2017, which reflects a significant increase of 49% to the 2023 figure. The overall change from the 2017 revision to the 2024 revision is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street, indicating that the guideline value was not recorded during those years.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Venkadeswara Nagar's 2024 guideline value is below this median.

• Venkadeswara Avenue: Rs 440 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)
• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Vedammal Nagar: Rs 550 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vasantham Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Venkadeswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkadeswara Nagar?

The Sub Registrar Office that covers Venkadeswara Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on the official valuation of the property.

When a property transaction occurs, the guideline value is used to calculate the applicable duties and fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Venkadeswara Nagar?

The current guideline value of Venkadeswara Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification for Venkadeswara Nagar?

Venkadeswara Nagar is classified as Residential Class III Type - I. This classification impacts the guideline value and the regulations governing property transactions in the area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the Venkadeswara Nagar area.

How is stamp duty calculated for properties in Venkadeswara Nagar?

Stamp duty is 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 of Rs 4,40,000 incurs a stamp duty of Rs 30,800 at 7%.