Guideline Value for Venkatesa Nagar

Venkatesa Nagar guideline value

The current guideline value of Venkatesa Nagar, located in Salamangalam village under the Sriperumpudur SRO, is Rs 550 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Venkatesa Nagar has changed

The guideline value of Venkatesa Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 40 per sq.ft, which saw a significant increase of 1,275% to Rs 550 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 368 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 550 per sq.ft, with no percentage change noted, and this figure remains the same in the 2024 revision.

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 1,275%.

Guideline values in Salamangalam

In Salamangalam village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Venkatesa Nagar's 2024 figure above this median.

• Vetri Nagar: Rs 400 per sq.ft (2024)
• Tvs Emerald Flourish Phase-III: Rs 3,100 per sq.ft (2024)
• TVS Emerald Flourish: Rs 1,850 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)
• Theradi street: Rs 400 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 Venkatesa Nagar?

The Sub Registrar Office that covers Venkatesa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Salamangalam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Venkatesa Nagar?

The current guideline value of Venkatesa Nagar is Rs 550 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 40 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017, and remained at Rs 550 per sq.ft in 2023 and 2024.

What is the median guideline value in Salamangalam?

The median guideline value in Salamangalam for the year 2024 is Rs 500 per sq.ft, with Venkatesa Nagar's value being above this median.

What are the stamp duty rates for property in Venkatesa Nagar?

The stamp duty rate for property in Venkatesa Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Venkatesa Nagar located?

The Sub Registrar Office for Venkatesa Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.