Guideline Value for VENKATESWARA NAGAR (VAL)

Venkateswara Nagar (Val) guideline value

The current guideline value for Venkateswara Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Venkateswara Nagar (Val) has changed

The guideline value for Venkateswara Nagar (Val) has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and finally, it rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is +10%. Notably, the increase from 2017 to 2023 was +49%, while the drop from 2012 to 2017 was -33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Venkateswara Nagar (Val) above this median.

• Vetrivelan Nagar: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Vgp Mount Mary Town (Ward -1): Rs 1,100 per sq.ft (2024)
• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar (Val)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that 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 information.

Which Sub Registrar Office covers Venkateswara Nagar (Val)?

The Sub Registrar Office that covers Venkateswara Nagar (Val) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Konathi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar (Val)?

The current guideline value of Venkateswara Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar (Val)?

Venkateswara Nagar (Val) is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 880 per sq.ft would incur a total fee of Rs 79,200.

Which office handles registrations for Venkateswara Nagar (Val)?

The Chengleput Joint II Sub Registrar Office handles registrations for Venkateswara Nagar (Val), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.