Guideline Value for Venkataraman Salai(M.G.R. Nagar, Nesappakkam)

Venkataraman Salai(M.G.R. Nagar, Nesappakkam) guideline value

The current guideline value of Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Venkataraman Salai(M.G.R. Nagar, Nesappakkam) has changed

The guideline value has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, a 49% increase, and further rose to the current value of Rs 3,300 per sq.ft in 2024, representing a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Venkataraman Salai(M.G.R. Nagar, Nesappakkam) below this median.

• Venkatachalam Street Block 82 (JPT): Rs 4,900 per sq.ft (2024)
• Vengeeswarar Nagar 3rd Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 3rd Cross Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 2nd Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 2nd Cross Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 1st Main Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataraman Salai(M.G.R. Nagar, Nesappakkam)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venkataraman Salai(M.G.R. Nagar, Nesappakkam)?

The Sub Registrar Office that covers Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Kodambakkam. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is crucial for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. Ensuring that the property is registered at the correct guideline value helps in avoiding legal complications and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkataraman Salai(M.G.R. Nagar, Nesappakkam)?

The current guideline value of Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with several revisions in between, including a decrease from 2012 to 2017.

What is the stamp duty for property in Venkataraman Salai(M.G.R. Nagar, Nesappakkam)?

The stamp duty for property in Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkataraman Salai(M.G.R. Nagar, Nesappakkam)?

The Sub Registrar Office for Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Venkataraman Salai(M.G.R. Nagar, Nesappakkam)?

The land classification for Venkataraman Salai(M.G.R. Nagar, Nesappakkam) is Residential Class IV Type - II.