Guideline Value for VENKATESA THIYAGARAJA NAGAR

Venkatesa Thiyagaraja Nagar guideline value

The current guideline value for Venkatesa Thiyagaraja Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Venkatesa Thiyagaraja Nagar has changed

The guideline value for Venkatesa Thiyagaraja Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which rose dramatically to Rs 2,700 per sq.ft in 2012, marking an increase of 1250%. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft following the 2024 revision, reflecting a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1350%. Notably, there are no figures available for the years 2003 and 2007 in the register for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the current value for Venkatesa Thiyagaraja Nagar above the median.

• Venkataraman Nagar "v.O.C.Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "venugopal Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "thiru.VI.Ka.Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "sri Krishnasamy Street": Rs 3,300 per sq.ft (2024)
• Venkataraman Nagar "south Railway Station Road": Rs 4,400 per sq.ft (2024)
• Venkataraman Nagar "rukmaniammal Street": Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Thiyagaraja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesa Thiyagaraja Nagar?

The Venkatesa Thiyagaraja Nagar area falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Korattur, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that property transactions are recorded fairly and transparently, reflecting the official valuation set by the Registration Department. Buyers and sellers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Venkatesa Thiyagaraja Nagar?

The current guideline value of Venkatesa Thiyagaraja Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of Venkatesa Thiyagaraja Nagar?

Venkatesa Thiyagaraja Nagar is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Venkatesa Thiyagaraja Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.