Guideline Value for Venkatasubramaniya Nagar

Venkatasubramaniya Nagar guideline value

The current guideline value of Venkatasubramaniya Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Venkatasubramaniya Nagar has changed

The guideline value for Venkatasubramaniya Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 700 per sq.ft. Looking further back, the value was Rs 469 per sq.ft in 2017, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 700 per sq.ft, which was a decrease of 33% from the previous 2017 figure. In 2007, the value was notably low at Rs 50 per sq.ft, which saw a dramatic rise of 1300% to reach Rs 700 per sq.ft in 2012.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1440%, reflecting the changes in property valuation over the years.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Venkatasubramaniya Nagar is below this median.

• Venkateswara Nagar: Rs 880 per sq.ft (2024)
• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Velan Nagar: Rs 720 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatasubramaniya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatasubramaniya Nagar?

The Sub Registrar Office that covers Venkatasubramaniya Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nandambakkam. It is used to determine 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 considered the minimum value for the purpose of calculating duties, ensuring that the registration reflects a fair valuation of the property being transacted.

Frequently asked questions

What is the current guideline value of Venkatasubramaniya Nagar?

The current guideline value of Venkatasubramaniya Nagar is Rs 770 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 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 1440% over the years.

What are the stamp duty and registration fees for property in Venkatasubramaniya Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registration for Venkatasubramaniya Nagar?

The Padappai Sub Registrar Office handles property registration for Venkatasubramaniya Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Venkatasubramaniya Nagar?

The land classification for Venkatasubramaniya Nagar is Residential Class II Type - I, indicating its designation for residential use.