Guideline Value for VENKATESHWARANAGAR

Venkateshwaranagar guideline value

The current guideline value of Venkateshwaranagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village under the Avadi SRO and is classified as Residential Class II Type - IV.

How the guideline value of Venkateshwaranagar has changed

The guideline value for Venkateshwaranagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 825 per sq.ft, which is an increase from Rs 750 per sq.ft in the 2023 revision. Notably, the 2023 revision did not change from the 2017 revision, which also recorded Rs 750 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2024, the overall change in guideline value is +10%. The increase from 2023 to 2024 represents a 10% rise, indicating a shift in property valuation in this area.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO carrying a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft, with a median value of Rs 770 per sq.ft. Venkateshwaranagar's 2024 guideline value of Rs 825 per sq.ft is above this median.

• Venumadavan Nagar & Streets: Rs 770 per sq.ft (2024)
• Vatchalapuram & Streets: Rs 870 per sq.ft (2024)
• Vatchalapuram 3rd Street: Rs 870 per sq.ft (2024)
• Vatchalapuram 2nd Street: Rs 870 per sq.ft (2024)
• Vatchalapuram 1st Street: Rs 870 per sq.ft (2024)
• Vasantham Nagar Extn: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwaranagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty, charged at 7%, would be Rs 57,750, while the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateshwaranagar?

The Sub Registrar Office that covers Venkateshwaranagar is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value is a crucial factor during the registration of property transactions in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers should be aware that the duty is assessed based on the higher value between the guideline value and the sale price, which can influence the final amount payable during registration.

Frequently asked questions

What is the current guideline value of Venkateshwaranagar?

The current guideline value of Venkateshwaranagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024. The 2017 revision also recorded Rs 750 per sq.ft, indicating no change from 2017 to 2023.

What is the land classification of Venkateshwaranagar?

Venkateshwaranagar is classified as Residential Class II Type - IV, which indicates its designation for residential purposes within the area.

What are the stamp duty rates for properties in Venkateshwaranagar?

The stamp duty for properties in Venkateshwaranagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Venkateshwaranagar?

The Avadi Sub Registrar Office covers Venkateshwaranagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.