Guideline Value for VENKATESWARA NAGAR ANNEXE

Venkateswara Nagar Annexe guideline value

The current guideline value of Venkateswara Nagar Annexe is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Venkateswara Nagar Annexe has changed

The guideline value for Venkateswara Nagar Annexe has seen several revisions over the years. The oldest recorded figure is from the 2017 revision at Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 880 per sq.ft, a further increase of 10% from the previous year.

There are no recorded figures for this street in the revisions of 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the guideline value of Venkateswara Nagar Annexe.

• Venkateswara Nagar: Rs 880 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Venkatasubramaniya Nagar: Rs 770 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Velan Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar Annexe

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, totaling 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 details.

Which Sub Registrar Office covers Venkateswara Nagar Annexe?

The Sub Registrar Office that covers Venkateswara Nagar Annexe is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Nandambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Annexe?

The current guideline value of Venkateswara Nagar Annexe is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office handles registrations for Venkateswara Nagar Annexe?

The Padappai Sub Registrar Office handles registrations for Venkateswara Nagar Annexe, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the appropriate revenue is collected by the government.