Guideline Value for Venkatasa Nagar Extension

Venkatasa Nagar Extension guideline value

The current guideline value of Venkatasa Nagar Extension is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village and falls under the Virugambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatasa Nagar Extension has changed

The guideline value for Venkatasa Nagar Extension has seen significant changes over the years. In 2003, the guideline value was Rs 740 per sq.ft, which increased to Rs 2,100 per sq.ft in 2007, marking a 184% rise. The value then rose to Rs 4,500 per sq.ft in 2012, a 114% increase from the previous revision. However, it dropped to Rs 3,015 per sq.ft in 2017, reflecting a decrease of 33%. The value rebounded to Rs 4,500 per sq.ft in 2023, followed by the current figure of Rs 4,950 per sq.ft, which represents a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 569%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for this area is Rs 4,400 per sq.ft, placing Venkatasa Nagar Extension's 2024 figure above this median.

• Venkatasa Nagar 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatasa Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatesa Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Venkatesa Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Venkatesh Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasa Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 4,950 per sq.ft, the guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. 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 Venkatasa Nagar Extension?

The Sub Registrar Office that covers Venkatasa Nagar Extension is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. 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 a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the established guideline value for the property in question.

Frequently asked questions

What is the current guideline value of Venkatasa Nagar Extension?

The current guideline value of Venkatasa Nagar Extension is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 740 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 569% over this period.

What is the land classification for Venkatasa Nagar Extension?

Venkatasa Nagar Extension is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 49,50,000, the total fees would amount to Rs 4,45,500.

Which office handles property registrations for Venkatasa Nagar Extension?

The Virugambakkam Sub Registrar Office handles property registrations for Venkatasa Nagar Extension, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.