Guideline Value for VENKATESAPURAM COLONY (KR)

Venkatesapuram Colony (Kr) guideline value

The current guideline value of Venkatesapuram Colony (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This colony is located in Sattamangalam village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Venkatesapuram Colony (Kr) has changed

The guideline value for Venkatesapuram Colony (Kr) has undergone several revisions over the years. The figures are as follows: in 2012, the value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. Subsequently, it rose to Rs 600 per sq.ft in 2023 and then increased to Rs 660 per sq.ft in 2024, marking a 10% rise from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Venkatesapuram Colony (Kr) is below this median.

• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)
• Vethanayagam Street(Ward -8): Rs 1,760 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram Colony (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesapuram Colony (Kr)?

The Chengleput Joint II Sub Registrar Office covers Venkatesapuram Colony (Kr). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps to determine the minimum value at which the property can be registered. This ensures transparency and fairness in the property registration process, as it reflects the prevailing rates in the area.

Frequently asked questions

What is the current guideline value of Venkatesapuram Colony (Kr)?

The current guideline value of Venkatesapuram Colony (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Venkatesapuram Colony (Kr)?

Venkatesapuram Colony (Kr) is classified as Residential Class I Type - III.

Which Sub Registrar Office covers the area?

The Chengleput Joint II Sub Registrar Office covers Venkatesapuram Colony (Kr), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Venkatesapuram Colony (Kr)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.