Guideline Value for VENUS COLONY

Venus Colony guideline value

The current guideline value of Venus Colony in Venmanamputhur village, under the Tiruvallur Joint 1 SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Venus Colony has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 200 per sq.ft in the 2023 revision, reflecting a 49% rise from the 2017 figure.

As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. Venus Colony's 2024 figure aligns with this median.

• Venus Nagar: Rs 200 per sq.ft (2024)
• Vedanta Nagar: Rs 300 per sq.ft (2024)
• Vasistar Nagar / Annex: Rs 250 per sq.ft (2024)
• Udayam Nagar: Rs 200 per sq.ft (2024)
• Udaya Deepam Nagar: Rs 200 per sq.ft (2024)
• T.N.E.B. Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Colony

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venus Colony?

The Sub Registrar Office covering Venus Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Venmanamputhur. It serves as the basis for calculating stamp duty and registration fees, which must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venus Colony?

The current guideline value of Venus Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 200 in 2012 to Rs 134 in 2017, then back to Rs 200 in 2023, and remains at Rs 200 in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Venus Colony?

Venus Colony is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Venus Colony?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Venus Colony?

The Sub Registrar Office for Venus Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.