Guideline Value for VENUGOPAL NAGAR

Venugopal Nagar guideline value

The current guideline value of Venugopal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Iyyappanthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Venugopal Nagar has changed

The guideline value for Venugopal Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Venugopal Nagar's 2024 figure below this median.

• Venugopal Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Venugopal Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Venugopal Nagar Ist Street: Rs 1,650 per sq.ft (2024)
• Venugopalapuram: Rs 2,750 per sq.ft (2024)
• V.G.N. Nagar: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% amounts to Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal Nagar?

The Sub Registrar Office covering Venugopal Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Iyyappanthangal. It is used to determine the stamp duty and registration fees payable when buying or selling property in this area.

When a property is registered, the higher value between the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Venugopal Nagar?

The current guideline value of Venugopal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty rates for property in Venugopal Nagar?

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

Which office handles property registrations in Iyyappanthangal?

The Chennai South Joint I Sub Registrar Office handles property registrations in Iyyappanthangal.

What is the median guideline value for streets in Iyyappanthangal?

The median guideline value for streets in Iyyappanthangal is Rs 2,200 per sq.ft, with Venugopal Nagar's value being below this median.