Guideline Value for VENKATESWARA NAGAR (VAL)

Venkateswara Nagar (Val) guideline value

The current guideline value of Venkateswara Nagar (Val) is Rs 881 per sq.ft, effective from 1 July 2024. This area is located in Thailavaram 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 undergone 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 2023 revision increased the value to Rs 800 per sq.ft, and the most recent 2024 revision raised it further to Rs 881 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 770 per sq.ft, placing Venkateswara Nagar (Val) above this median at Rs 881 per sq.ft.

• 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 881 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): Rs 770 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 881 per sq.ft, the total guideline value amounts to Rs 8,81,000. The stamp duty at 7% would be Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total to Rs 79,290. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar (Val)?

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

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

The guideline value is an essential factor when registering a property in Thailavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Venkateswara Nagar (Val) is Rs 881 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 back to Rs 800 per sq.ft in 2023, and finally to Rs 881 per sq.ft in 2024.

What are the other streets in Thailavaram and their guideline values?

Other streets in Thailavaram under the Chengleput Joint II SRO have varying guideline values, with rates ranging from Rs 440 to Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for property in Venkateswara Nagar (Val)?

For a property valued at Rs 8,81,000, the stamp duty is Rs 61,670 and the registration fee is Rs 17,620, totaling Rs 79,290.

Which office handles property registrations for Venkateswara Nagar (Val)?

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