Guideline Value for Venkatesan Nagar / Venkateswara Nagar

Venkatesan Nagar / Venkateswara Nagar guideline value

The current guideline value for Venkatesan Nagar / Venkateswara Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Sembiam village and falls under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Venkatesan Nagar / Venkateswara Nagar has changed

The guideline value for Venkatesan Nagar / Venkateswara Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,206 per sq.ft. The 2023 revision increased the value to Rs 1,800 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Venkatesan Nagar / Venkateswara Nagar's 2024 figure below this median.

• Verkadalaisamy Street: Rs 2,700 per sq.ft (2024)
• Vasudevagramani Street: Rs 2,200 per sq.ft (2024)
• Vajiravelu Mudali Street: Rs 2,700 per sq.ft (2024)
• Union Public Lane: Rs 2,700 per sq.ft (2024)
• Watkins Street: Rs 3,500 per sq.ft (2024)
• Thivuvalluvar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Nagar / Venkateswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Venkatesan Nagar / Venkateswara Nagar?

The Sub Registrar Office that covers Venkatesan Nagar / Venkateswara Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Sembiam, as it determines the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements at the time of registration.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Venkatesan Nagar / Venkateswara Nagar?

The current guideline value for Venkatesan Nagar / Venkateswara Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012, showing an overall increase of 6% from 2012 to 2024.

What are the other streets in Sembiam and their guideline values?

Other streets in Sembiam include Verkadalaisamy Street at Rs 2,700 per sq.ft, Vasudevagramani Street at Rs 2,200 per sq.ft, and Watkins Street at Rs 3,500 per sq.ft, among others. These values vary significantly from the guideline value of Venkatesan Nagar / Venkateswara Nagar.

What is the stamp duty rate for property transactions in Venkatesan Nagar / Venkateswara Nagar?

The stamp duty rate for property transactions in Venkatesan Nagar / Venkateswara Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Venkatesan Nagar / Venkateswara Nagar?

The Sub Registrar Office for Venkatesan Nagar / Venkateswara Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information about your SRO online.