Guideline Value for Venkatachalam Nagar

Venkatachalam Nagar guideline value

The current guideline value of Venkatachalam Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Siruniyam village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Venkatachalam Nagar has changed

The guideline value for Venkatachalam Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which increased to Rs 200 per sq.ft in 2023, marking a significant rise of 49%. The current 2024 revision reflects a further increase to Rs 220 per sq.ft, an addition of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Venkatachalam Nagar is below this median.

• Yahovayera Avenue: Rs 530 per sq.ft (2024)
• Sri Vadivudaiamman Nagar: Rs 825 per sq.ft (2024)
• Sri Selva Vignesh Outer Ring Road Avenue: Rs 440 per sq.ft (2024)
• Sri Selva Vignesh Nagar Phase-II: Rs 1,500 per sq.ft (2024)
• Sri Selva Vignesh Nagar East Avenue: Rs 400 per sq.ft (2024)
• Sri Selva Vignesh Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. 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 Venkatachalam Nagar?

The Sub Registrar Office that covers Venkatachalam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Venkatachalam Nagar?

The current guideline value of Venkatachalam Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

What is the stamp duty for property in Venkatachalam Nagar?

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

Where can I find the Sub Registrar Office for Venkatachalam Nagar?

The Sub Registrar Office for Venkatachalam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Siruniyam with guideline values?

Other streets in Siruniyam include Yahovayera Avenue, Sri Vadivudaiamman Nagar, Sri Selva Vignesh Outer Ring Road Avenue, Sri Selva Vignesh Nagar Phase-II, Sri Selva Vignesh Nagar East Avenue, and Sri Selva Vignesh Nagar, each with their respective guideline values.