Guideline Value for VENKATAPATHI NAIDU NAGAR

Venkatapathi Naidu Nagar guideline value

The current guideline value of Venkatapathi Naidu Nagar is Rs 501 per sq.ft, effective from 1 July 2024. This area is located in Thadaperumbakkam village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Venkatapathi Naidu Nagar has changed

The guideline value for Venkatapathi Naidu Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which then changed to Rs 134 per sq.ft in 2017. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 501 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 124%. The jump from 2023 to 2024 is a substantial 67%. Overall, from 2012 to 2024, the guideline value has increased by 151%.

Guideline values in Thadaperumbakkam

In Thadaperumbakkam, there are 50 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 500 to Rs 1,500 per sq.ft. The median value for these streets is Rs 501 per sq.ft, which is equal to the current guideline value for Venkatapathi Naidu Nagar.

• Velavan Nagar: Rs 501 per sq.ft (2024)
• Veera Venkat Nagar: Rs 501 per sq.ft (2024)
• Subbu Lakshmi Ammal Nagar: Rs 1,500 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 501 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 501 per sq.ft (2024)
• Sri Sai Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatapathi Naidu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, bringing the total to Rs 45,090. It is important to note that the 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 Venkatapathi Naidu Nagar?

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

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

The guideline value plays a crucial role during property registration in Thadaperumbakkam. It is used to determine the stamp duty and registration fee that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When buying or selling property, the guideline value serves as a baseline for calculating the costs associated with the transaction. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value for Venkatapathi Naidu Nagar?

The current guideline value for Venkatapathi Naidu Nagar is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 501 per sq.ft in 2024.

What is the significance of the guideline value?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value in accordance with local regulations.

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 area.

How can I calculate stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator. This tool will help you determine the costs based on the guideline value or sale price.