Guideline Value for VENKATRAMA NAGAR

Venkatrama Nagar guideline value

The current guideline value of Venkatrama Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkatrama Nagar has changed

The guideline value for Venkatrama Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft. In 2023, it increased to Rs 300 per sq.ft, reflecting a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 330 per sq.ft, which is 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 revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is equal to the current guideline value of Venkatrama Nagar.

• Venkateshwara Nagar: Rs 330 per sq.ft (2024)
• Venkatesa Perumal Nagar: Rs 330 per sq.ft (2024)
• Vela Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Veera Pandiya Kattapomman Nagar: Rs 330 per sq.ft (2024)
• Vasuki Nagar: Rs 330 per sq.ft (2024)
• Vasavi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatrama Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, while the registration fee at 2% would be Rs 6,600, bringing the total cost together to Rs 29,700. 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 Venkatrama Nagar?

The Sub Registrar Office that covers Venkatrama Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall transaction costs. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkatrama Nagar?

The current guideline value of Venkatrama Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Venkatrama Nagar?

Venkatrama Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Venkatrama Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 3,30,000, the stamp duty would be Rs 23,100.