Guideline Value for VENKATESWARA NAGAR 2ND STREET

Venkateswara Nagar 2nd Street guideline value

The current guideline value of Venkateswara Nagar 2nd 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 2nd Street has changed

The guideline value for Venkateswara Nagar 2nd 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 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023 and further rose to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry 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 2nd Street's 2024 guideline value is above this median.

• Venkateswara Nagar 1st 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 2nd 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 to Rs 1,17,000. Please note that 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 2nd Street?

The Venkateswara Nagar 2nd Street is covered by 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 when registering property transactions in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When you buy or sell property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is recorded at a value that reflects the established rates in the area.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar 2nd Street?

The current guideline value for Venkateswara Nagar 2nd 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 2nd Street?

Venkateswara Nagar 2nd Street is classified as Residential Special Type - III.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Venkateswara Nagar 2nd Street?

The Sub Registrar Office covering Venkateswara Nagar 2nd Street is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.