Guideline Value for VENKATESWARAN NAGAR (PER)

Venkateswaran Nagar (Per) guideline value

The current guideline value of Venkateswaran Nagar (Per) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venkateswaran Nagar (Per) has changed

The guideline value for Venkateswaran Nagar (Per) has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 402 per sq.ft. The value then increased to Rs 600 per sq.ft in 2023, and subsequently rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, placing Venkateswaran Nagar (Per) below this median value.

• Vethanayagam Street(Ward -8): Rs 1,760 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswaran Nagar (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty, charged at 7%, would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswaran Nagar (Per)?

The Sub Registrar Office covering Venkateswaran Nagar (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Venkateswaran Nagar (Per)?

The current guideline value for Venkateswaran Nagar (Per) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Venkateswaran Nagar (Per)?

Venkateswaran Nagar (Per) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Venkateswaran Nagar (Per)?

For a 1,000 sq.ft plot, the total guideline value is Rs 6,60,000. The stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles the registration for Venkateswaran Nagar (Per)?

The Chengleput Joint II Sub Registrar Office handles the registration for Venkateswaran Nagar (Per), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.