Guideline Value for VENKAT NARAYANA NAGAR

Venkat Narayana Nagar guideline value

The current guideline value of Venkat Narayana Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Devathanam village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Venkat Narayana Nagar has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft, which was a decrease of 33% from the previous figure of Rs 67 per sq.ft in 2017. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value remained at Rs 100 per sq.ft, indicating a 49% increase from the 2017 figure. The most recent revision in 2024 has maintained the guideline value at Rs 100 per sq.ft, showing no change from the 2023 revision.

Guideline values in Devathanam

In Devathanam, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 111 per sq.ft, with the median set at Rs 100 per sq.ft. Venkat Narayana Nagar's 2024 figure aligns with this median value.

• Venkata Amsaveni Nagar: Rs 100 per sq.ft (2024)
• Sri Ranganathar Nagar: Rs 100 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 111 per sq.ft (2024)
• Sri Ragavendhra Nagar: Rs 111 per sq.ft (2024)
• Semmozhi Nagar Part III: Rs 100 per sq.ft (2024)
• Semmozhi Nagar Part II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Venkat Narayana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkat Narayana Nagar?

The Sub Registrar Office covering Venkat Narayana 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 Devathanam

The guideline value is a crucial factor during the registration process when buying or selling property in Devathanam. It determines the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as per government regulations. This ensures transparency and compliance with local laws.

Frequently asked questions

What is the current guideline value of Venkat Narayana Nagar?

The current guideline value of Venkat Narayana Nagar is Rs 100 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 100 per sq.ft in 2024. It was Rs 100 per sq.ft in 2023, Rs 67 per sq.ft in 2017, and Rs 100 per sq.ft in 2012.

What is the land classification of Venkat Narayana Nagar?

Venkat Narayana Nagar is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where is the Ponneri Sub Registrar Office located?

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

How is stamp duty calculated in Venkat Narayana Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000.