Guideline Value for VENKATESWARA NAGAR PART-I

Venkateswara Nagar Part-I guideline value

The current guideline value of Venkateswara Nagar Part-I is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Venkateswara Nagar Part-I has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 2,000 per sq.ft. The 2024 revision also maintains the guideline value at Rs 2,000 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has also been a 49% increase, with the current value of Rs 2,000 per sq.ft being significantly higher than the earlier figure of Rs 1,340 per sq.ft.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,500 per sq.ft, placing Venkateswara Nagar Part-I above this median.

• Veerabagu Nagar Extn: Rs 2,000 per sq.ft (2024)
• Veerabagu Nagar: Rs 2,000 per sq.ft (2024)
• Vedagiri Nagar: Rs 1,200 per sq.ft (2024)
• Vijaya Nagar: Rs 1,000 per sq.ft (2024)
• Vasantham Nagar: Rs 1,500 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would amount to Rs 20,00,000. The stamp duty is charged at 7%, resulting in Rs 1,40,000, while the registration fee at 2% amounts to Rs 40,000. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,80,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar Part-I?

The Sub Registrar Office that covers Venkateswara Nagar Part-I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions in Nandhivaram, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Part-I?

The current guideline value of Venkateswara Nagar Part-I is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,000 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 1,340 per sq.ft in 2017 to 2023. Overall, the increase from 2017 to 2024 is also 49%.

What are the guideline values for other streets in Nandhivaram?

Other streets in Nandhivaram have guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for the village is Rs 1,500 per sq.ft, with Venkateswara Nagar Part-I being above this median.

What is the stamp duty rate for properties in Venkateswara Nagar Part-I?

The stamp duty rate for properties in Venkateswara Nagar Part-I is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Nagar Part-I?

The Sub Registrar Office for Venkateswara Nagar Part-I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.