Guideline Value for Venga Nagar

Venga Nagar guideline value

The current guideline value of Venga Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Irunkattukottai village under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Venga Nagar has changed

The guideline value for Venga Nagar has seen several revisions over the years. The 2024 revision maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 167 per sq.ft, marking a 50% increase when compared to the 2017 figure. The 2012 revision also had a guideline value of Rs 250 per sq.ft, indicating a decrease of 33% from the 2012 to 2017 revision. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The fluctuations in the guideline value reflect the changes in the property market over the years, with the most recent values stabilizing at Rs 250 per sq.ft since 2012.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 250 to Rs 1,250 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, positioning Venga Nagar's guideline value below this median.

• Vinayagar Koil Street: Rs 400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 400 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 500 per sq.ft (2024)
• Subrabath Nagar: Rs 400 per sq.ft (2024)
• Star Avenue: Rs 600 per sq.ft (2024)
• Sri Kamacthi Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Venga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Venga Nagar?

The Sub Registrar Office that covers Venga Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venga Nagar?

The current guideline value of Venga Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a significant increase of 50% from Rs 167 per sq.ft in 2017. The 2024 revision shows no change from the previous year.

What are the stamp duty and registration fees in Venga Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles property registration for Venga Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for Venga Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value?

The guideline value is used as a reference for determining the minimum registration value of properties, which affects the calculation of stamp duty and registration fees during property transactions.