Guideline Value for VENKAT RAMANI NAGAR

Venkat Ramani Nagar guideline value

The current guideline value of Venkat Ramani Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Ikkadu village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkat Ramani Nagar has changed

Over the years, the guideline value of Venkat Ramani Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision saw a decrease to Rs 268 per sq.ft, but by the 2023 revision, it returned to Rs 400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, when comparing the 2012 revision to the 2024 revision, there has been no change, as both are set at Rs 400 per sq.ft.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft, with the median being Rs 400 per sq.ft. Venkat Ramani Nagar's 2024 figure aligns with this median.

• Vetri Enclave Phase III: Rs 500 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Vasantham Town: Rs 500 per sq.ft (2024)
• V.K.N. Nagar 1st Street: Rs 400 per sq.ft (2024)
• V.K.N. Nagar 2nd street: Rs 400 per sq.ft (2024)
• V.K.N. Nagar 3rd street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Venkat Ramani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. 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 details.

Which Sub Registrar Office covers Venkat Ramani Nagar?

The Sub Registrar Office that covers Venkat Ramani Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Ikkadu. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkat Ramani Nagar?

The current guideline value of Venkat Ramani Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with Rs 400 per sq.ft in 2012, dropping to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Venkat Ramani Nagar?

Venkat Ramani Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Venkat Ramani Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, covering Venkat Ramani Nagar.