Guideline Value for Venkatesa Nagar

Venkatesa Nagar guideline value

The current guideline value of Venkatesa Nagar, located in Ullagaram village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Venkatesa Nagar has changed

The guideline value for Venkatesa Nagar has seen significant changes over the years. In 2002, the value was Rs 267 per sq.ft. It increased to Rs 299 per sq.ft in 2003, marking a 12% rise. The value saw a substantial increase of 301% to reach Rs 1,200 per sq.ft in 2007. Following this, the value rose dramatically to Rs 3,500 per sq.ft in 2012, reflecting a 192% increase. However, it then decreased by 33% to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, and most recently, it has risen to Rs 3,900 per sq.ft in 2024, representing an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1361%. The register has no figures for the years not listed above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Venkatesa Nagar's 2024 figure above this median.

• Venkatasamy Street: Rs 3,900 per sq.ft (2024)
• Vempuli Amman Koil Street: Rs 2,800 per sq.ft (2024)
• Vembuli Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vellala Street Samy Nagar Extension: Rs 2,800 per sq.ft (2024)
• Venkat Narayana Street: Rs 3,900 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 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 to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Ullagaram

The guideline value is an important factor when registering property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 significantly from Rs 267 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1361% over this period.

What is the land classification of Venkatesa Nagar?

Venkatesa Nagar is classified as Residential Class I Type - III.

Where can I find the registration office for Venkatesa Nagar?

The registration office for Venkatesa Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Venkatesa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.