Guideline Value for VENKATESWARA NAGAR (VAL)

Venkateswara Nagar (Val) guideline value

The current guideline value of Venkateswara Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Vallancheri village and falls 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 remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 800 per sq.ft, and in the latest 2024 revision, it rose again to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 800 per sq.ft. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. For the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Venkateswara Nagar (Val) above this median value.

• 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)
• 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 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 the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vallancheri. It serves as a basis for calculating stamp duty and registration fees, ensuring that the transaction is officially recorded and that the appropriate taxes are paid.

When a buyer purchases property, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This ensures that all transactions are transparent and adhere to the regulations set forth by the Registration Department.

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 back to Rs 800 in 2023, and finally to Rs 880 in 2024. This reflects an overall increase of 10% from 2012 to 2024.

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

Venkateswara Nagar (Val) is classified as Residential Class I Type - II, indicating its designation for residential use within the area.

What are the stamp duty rates applicable in Venkateswara Nagar (Val)?

The stamp duty rate applicable in Venkateswara Nagar (Val) is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Nagar (Val)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant online resources.