Guideline Value for VENKATESWARA NAGAR 1ST STREET

Venkateswara Nagar 1st Street guideline value

The current guideline value of Venkateswara Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Thandurai village under the Avadi SRO, and it falls under the Residential Special Type - III land classification.

How the guideline value of Venkateswara Nagar 1st Street has changed

The guideline value for Venkateswara Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision raised it further to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then increased by 8% from 2023 to 2024, resulting in an overall increase of 8% from 2012 to 2024.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft, with a median value of Rs 988 per sq.ft. Venkateswara Nagar 1st Street's 2024 guideline value is above this median.

• Venkateswara Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Venkateswar Street, Kamarajapuram: Rs 988 per sq.ft (2024)
• Venkatapuram: Rs 988 per sq.ft (2024)
• Vigneshwara Nagar: Rs 988 per sq.ft (2024)
• Velankanni Street: Rs 988 per sq.ft (2024)
• Vinayagar Koil St: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar 1st Street?

The Venkateswara Nagar 1st Street falls under the Avadi Sub Registrar Office, located at 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 Thandurai

The guideline value is a crucial factor in the registration process when buying or selling property in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers navigate the financial aspects of property transactions. It ensures that both parties are aware of the official valuation set by the registration department, which impacts the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 1st Street?

The current guideline value of Venkateswara Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar 1st Street?

Venkateswara Nagar 1st Street is classified as Residential Special Type - III.

Where can I find the registration office for Venkateswara Nagar 1st Street?

The registration office for Venkateswara Nagar 1st Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Thandurai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 1,300 per sq.ft, the total fees can be substantial depending on the size of the property.