Guideline Value for Venkatathri Nagar

Venkatathri Nagar guideline value

The current guideline value of Venkatathri Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkatathri Nagar has changed

The guideline value for Venkatathri Nagar has undergone several revisions over the years. In 2012, the value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,760 per sq.ft as of the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The latest increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Venkatathri Nagar is below this median.

• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Veeraraghava Nagar: Rs 3,630 per sq.ft (2024)
• Vasudeva Nagar: Rs 3,630 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatathri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatathri Nagar?

Venkatathri Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mudichur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty based on this value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Venkatathri Nagar?

The current guideline value of Venkatathri Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,760 per sq.ft in 2024.

What is the land classification for Venkatathri Nagar?

Venkatathri Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Venkatathri Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Venkatathri Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.