Guideline Value for VENUS NAGAR

Venus Nagar guideline value

The current guideline value of Venus Nagar, located in Venmanamputhur village, is Rs 200 per sq.ft, effective from the 2024 revision. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Venus Nagar has changed

The guideline value for Venus Nagar has undergone several revisions over the years. In the 2012 revision, the 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. However, the value saw a significant increase in the 2023 revision, returning to Rs 200 per sq.ft. The most recent 2024 revision also maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

Between the revisions, the changes in guideline values are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been no net change in the guideline value.

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. The median value is Rs 200 per sq.ft, which matches the current guideline value of Venus Nagar.

• Venus Colony: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total 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, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venus Nagar?

The Sub Registrar Office covering Venus Nagar 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venus Nagar?

The current guideline value of Venus Nagar is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions being Rs 200 per sq.ft in both 2023 and 2024, compared to Rs 134 per sq.ft in 2017.

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

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

Where is the Sub Registrar Office for Venus Nagar located?

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

What is the land classification of Venus Nagar?

Venus Nagar is classified as Residential Class II Type - II, which indicates its zoning for residential development.