Guideline Value for VENKATESWARA NAGAR

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Tiruttani village under the Thiruttani SRO, and is classified as Residential Class V Type - I.

How the guideline value of Venkateswara Nagar has changed

The guideline value of Venkateswara Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO that carry a 2024 guideline value, ranging from Rs 548 to Rs 1,540 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value of Venkateswara Nagar is below this median.

• Thuraivari Pettai Road: Rs 1,099 per sq.ft (2024)
• Thottakara Street: Rs 825 per sq.ft (2024)
• Thirukulam Area: Rs 825 per sq.ft (2024)
• Thekkalur Road: Rs 550 per sq.ft (2024)
• Theepanji Amman Koil Street: Rs 770 per sq.ft (2024)
• Thasildhar Quarters: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. Please note that the duty is charged on the higher of the guideline value and 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 Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Tiruttani. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is considered to ensure that the sale price reflects the current market conditions. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What are the other streets with guideline values in Tiruttani?

Other streets in Tiruttani include Thuraivari Pettai Road at Rs 1,099 per sq.ft, Thottakara Street and Thirukulam Area both at Rs 825 per sq.ft, Thekkalur Road and Thasildhar Quarters at Rs 550 per sq.ft, and Theepanji Amman Koil Street at Rs 770 per sq.ft.

What is the stamp duty for property in Venkateswara Nagar?

The stamp duty for property in Venkateswara Nagar is calculated at 7% of the guideline value. For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.

Which office handles property registration in Venkateswara Nagar?

The Thiruttani Sub Registrar Office handles property registration for Venkateswara Nagar. It is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.