Guideline Value for VENKATESWARA NAGAR 4TH MAIN ROAD

Venkateswara Nagar 4th Main Road guideline value

The current guideline value of Venkateswara Nagar 4th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venkateswara Nagar 4th Main Road has changed

The guideline value for Venkateswara Nagar 4th Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 280 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,100 per sq.ft in 2007, and it further increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The guideline value then rose to Rs 2,500 per sq.ft in 2023 before reaching the current value of Rs 2,750 per sq.ft in 2024.

Examining the changes between these revisions, we see that from 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 127%. The increase from 2003 to 2007 was 218%, and from 2002 to 2003, it was 24%. Overall, from 2002 to 2024, the guideline value has increased by 882%. There are no revisions with figures missing for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Venkateswara Nagar 4th Main Road is below this median.

• Venkateswara Nagar 3rd Main Road: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar 1st To 26th Cros: Rs 2,750 per sq.ft (2024)
• Venkateswara Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Venkat Street: Rs 2,750 per sq.ft (2024)
• Venugopal Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar 4th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkateswara Nagar 4th Main Road?

The Sub Registrar Office that covers Venkateswara Nagar 4th Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property in Ramapuram. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value influences the overall cost involved in the transaction. It is essential for both parties to understand how this value affects their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar 4th Main Road?

The current guideline value of Venkateswara Nagar 4th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 280 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 882% since 2002.

What is the stamp duty rate for property in Venkateswara Nagar 4th Main Road?

The stamp duty rate for property in Venkateswara Nagar 4th Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Venkateswara Nagar 4th Main Road located?

The Sub Registrar Office for Venkateswara Nagar 4th Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How can I calculate the registration fees for property in Venkateswara Nagar?

You can calculate the registration fees using the stamp duty and registration fee calculator available on our website.