Guideline Value for VENKATESWARA NAGAR

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Athur B Block village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Venkateswara Nagar has changed

Over the years, the guideline value for Venkateswara Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which then increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it dropped to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 500 per sq.ft, reflecting no change between these two years. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a substantial increase of 49%, while the jump from 2007 to 2012 was an impressive 233%. Overall, from 2007 to 2024, the guideline value has increased by 233%, indicating a significant rise in the value of properties in this area over time.

Guideline values in Athur B Block

Athur B Block has a total of 79 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 268 to Rs 1,525 per sq.ft, with a median value of Rs 700 per sq.ft. Venkateswara Nagar's current guideline value is below this median.

• Vgn Water Gardens: Rs 700 per sq.ft (2024)
• Vasantham Nagar Phase1,2,3: Rs 700 per sq.ft (2024)
• Vasantham Nagar Extn: Rs 800 per sq.ft (2024)
• Vijayanagar Extention: Rs 1,000 per sq.ft (2024)
• Vaishnaiv Nagar: Rs 700 per sq.ft (2024)
• VKR Gardens: Rs 1,440 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total cost of Rs 45,000. 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?

The Sub Registrar Office that covers Venkateswara Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value plays a crucial role in the registration process when buying or selling property in Athur B Block. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Athur B Block?

Other streets in Athur B Block have varying guideline values, ranging from Rs 268 to Rs 1,525 per sq.ft, with a median value of Rs 700 per sq.ft.

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

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

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

The Chengleput Joint II Sub Registrar Office covers Venkateswara Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.