Guideline Value for Venkatesa Nagar

Venkatesa Nagar guideline value

The current guideline value of Venkatesa Nagar is Rs 3,900 per sq.ft. This area is located in Thalakanancherry village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Venkatesa Nagar has changed

The guideline value for Venkatesa Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 750 per sq.ft, which significantly increased to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,345 per sq.ft. The value then rose to Rs 3,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,900 per sq.ft.

Examining the changes between revisions, the guideline value increased by 367% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 11%. Overall, the guideline value has risen by 420% from 2007 to 2024.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Venkatesa Nagar.

• Venugopalapuram: Rs 3,900 per sq.ft (2024)
• Vijay Avenue: Rs 4,400 per sq.ft (2024)
• Vallalar Street: Rs 2,800 per sq.ft (2024)
• Vishvanathapuram: Rs 3,900 per sq.ft (2024)
• Union carbide Colony: Rs 4,400 per sq.ft (2024)
• Ullagaram Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkatesa Nagar?

The current guideline value of Venkatesa Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, which is also the current value for Venkatesa Nagar.

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

The stamp duty for properties in Venkatesa Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.