Guideline Value for VENUMADAVAN NAGAR & STREETS

Venumadavan Nagar & Streets guideline value

The current guideline value of Venumadavan Nagar & Streets is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-A village, under the Avadi SRO, and is classified as Residential Class II Type - III.

How the guideline value of Venumadavan Nagar & Streets has changed

The guideline value for Venumadavan Nagar & Streets has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 750 per sq.ft, which is an increase of 7% from Rs 700 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 469 per sq.ft. This indicates a significant increase of 49% from 2017 to 2023 and an overall increase of 60% from 2017 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for Venumadavan Nagar & Streets.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are a total of 382 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median value is Rs 750 per sq.ft, which aligns with the guideline value of Venumadavan Nagar & Streets.

• Venkateshwara Nagar: Rs 825 per sq.ft (2024)
• Vilapakkam Subbaiah Nagar: Rs 750 per sq.ft (2024)
• Vinayagar Koil Street: Rs 750 per sq.ft (2024)
• Virundavan Nagar: Rs 750 per sq.ft (2024)
• Veeraghava Nagar: Rs 660 per sq.ft (2024)
• Vatchalapuram & Streets: Rs 840 per sq.ft (2024)

Stamp duty and registration fee for property in Venumadavan Nagar & Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venumadavan Nagar & Streets?

The Sub Registrar Office that covers Venumadavan Nagar & Streets is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value plays a crucial role during the registration process when buying or selling property in Thiruninravur-A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these fees are calculated based on the official value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Venumadavan Nagar & Streets?

The current guideline value of Venumadavan Nagar & Streets is Rs 750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 60%, rising from Rs 469 per sq.ft to Rs 750 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value in 2023 was Rs 700 per sq.ft, which represents a 7% increase from the 2024 revision.

Which office handles property registrations in this area?

The Avadi Sub Registrar Office handles property registrations for Venumadavan Nagar & Streets, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Venumadavan Nagar & Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.