Guideline Value for Venkatesa Nagar, Chennai 82

Venkatesa Nagar, Chennai 82 guideline value

The current guideline value of Venkatesa Nagar, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Ayanavaram village and is classified as Residential Class II Type - I. The relevant Sub Registrar Office for this locality is the AnnaNagar SRO.

How the guideline value of Venkatesa Nagar, Chennai 82 has changed

The guideline value for Venkatesa Nagar has undergone several revisions over the years. Starting from the 2007 revision, the guideline value was Rs 1,200 per sq.ft. It increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, between 2012 and 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. In 2017, the value was revised to Rs 4,000 per sq.ft in 2023, which represented a 49% increase. The most recent revision in 2024 brought the guideline value to Rs 4,400 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Venkatesa Nagar's 2024 figure below that median.

• Venkatesapuram colony 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony 3rd Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Angadi Street: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Extension: Rs 4,900 per sq.ft (2024)
• Venkatesapuram colony Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Venkatesa puram colony North Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Nagar, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Venkatesa Nagar, Chennai 82?

The Sub Registrar Office that covers Venkatesa Nagar, Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property registration in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the property's assessed value. Buyers and sellers must be aware of the current guideline value to accurately estimate their financial obligations during a transaction.

When a property is sold, the guideline value can influence the sale price, as it represents the minimum value at which the property can be registered. This ensures that the sale is recorded accurately and transparently in the official register.

Frequently asked questions

What is the current guideline value of Venkatesa Nagar, Chennai 82?

The current guideline value of Venkatesa Nagar, Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267%.

What are the stamp duty and registration fees for properties in Venkatesa Nagar?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Venkatesa Nagar?

The AnnaNagar Sub Registrar Office is responsible for Venkatesa Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees. It serves as the minimum value for property registration, ensuring that the sale is recorded accurately in the official register.