Guideline Value for VENKATESWARA NAGAR

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Maele Manapakkam village under the Chengleput Joint II SRO, is Rs 301 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Venkateswara Nagar has changed

Over the years, the guideline value for Venkateswara Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. Following this, the 2023 revision increased the value to Rs 300 per sq.ft. The latest revision in 2024 has brought the value to Rs 301 per sq.ft, showing no change from the previous year.

In summary, from 2012 to 2017, there was a decline of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0%.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft. The median value is Rs 301 per sq.ft, which is equal to the 2024 figure for Venkateswara Nagar.

• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Avenue: Rs 301 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 301 per sq.ft, the total guideline value amounts to Rs 3,01,000. The stamp duty at 7% would be Rs 21,070, and the registration fee at 2% would be Rs 6,020, bringing the total to Rs 27,090. 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 information.

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. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Maele Manapakkam. It is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the officially recognized value of the property.

When buying or selling property, the guideline value helps ensure transparency and consistency in property transactions, as it reflects the government’s assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with a notable increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 301 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar?

The land classification for Venkateswara Nagar is Residential Special Type - I.

Where can I find the Chengleput Joint II SRO?

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

How is the stamp duty calculated for property in Venkateswara Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,01,000, the stamp duty would be Rs 21,070.