Guideline Value for VENKATESHWARA NAGAR

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar is Rs 1,002 per sq.ft, effective from the 2024 revision. This area is located in Kosappur village under the Thiruvottiyur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Venkateshwara Nagar has changed

The guideline value for Venkateshwara Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 10 per sq.ft, which increased to Rs 11 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial jump to Rs 100 per sq.ft in 2007, reflecting an increase of 809%. Following that, it rose to Rs 300 per sq.ft in 2012, a 200% increase. However, from 2012 to 2017, the value fell to Rs 201 per sq.ft, indicating a decrease of 33%. The value then surged to Rs 1,002 per sq.ft in 2023, followed by no change in the 2024 revision, which also stands at Rs 1,002 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 9,920%. Notably, there are no figures available for the revisions in years other than those mentioned above.

Guideline values in Kosappur

Kosappur village has a range of guideline values across its streets, with 25 streets under the Thiruvottiyur SRO carrying a 2024 figure between Rs 1,000 and Rs 1,600 per sq.ft. The median value is Rs 1,002 per sq.ft, which is equal to the current guideline value for Venkateshwara Nagar.

• Vasantham Colony: Rs 1,002 per sq.ft (2024)
• Thiyagi Viswanatha Dass Nagar: Rs 1,001 per sq.ft (2024)
• Thangam Colony Ext: Rs 1,002 per sq.ft (2024)
• Thangam Colony: Rs 1,002 per sq.ft (2024)
• Subam Colony Extn: Rs 1,002 per sq.ft (2024)
• Subam Colony: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty charged at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost for these fees Rs 90,180. It is important to note that the 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 Venkateshwara Nagar?

The Sub Registrar Office that covers Venkateshwara Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kosappur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 1,002 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 10 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 9,920% over the years.

What are the stamp duty and registration fees for properties in Venkateshwara Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, these fees would total Rs 90,180.

Which office handles property registrations in Venkateshwara Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations in Venkateshwara Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Venkateshwara Nagar?

Venkateshwara Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.