Guideline Value for Venkatesan Nagar

Venkatesan Nagar guideline value

The current guideline value of Venkatesan Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Venkatesan Nagar has changed

Over the years, the guideline value of Venkatesan Nagar has experienced significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased dramatically to Rs 2,900 per sq.ft in 2012, marking a rise of 625%. However, it then decreased to Rs 1,943 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 2,900 per sq.ft in 2023, followed by another rise to the current figure of Rs 3,190 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the 2007 and 2024 revisions, there has been a remarkable increase of 698%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram village has 94 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft, placing Venkatesan Nagar's 2024 figure below the median.

• Venkatesan Nagar Annuxe: Rs 3,190 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,190 per sq.ft (2024)
• Vasuki Nagar: Rs 3,520 per sq.ft (2024)
• Vignesh Nagar: Rs 3,190 per sq.ft (2024)
• V.N.P. Avenue: Rs 3,520 per sq.ft (2024)
• V.N.T. Avenue: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, while the registration fee at 2% would be Rs 63,800. Together, the total cost for these fees would be Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesan Nagar?

The Sub Registrar Office that covers Venkatesan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Madanandapuram, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and legally binding.

Buyers should be aware that the guideline value is set by the government and can vary based on location and land classification. It is essential to check the current guideline value before proceeding with any property transactions to avoid unexpected costs.

Frequently asked questions

What is the current guideline value of Venkatesan Nagar?

The current guideline value of Venkatesan Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, representing an overall increase of 698% across the revisions.

What is the stamp duty for properties in Venkatesan Nagar?

The stamp duty for properties in Venkatesan Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I contact for Venkatesan Nagar?

The Kunrathur Sub Registrar Office covers Venkatesan Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the guideline values of other streets in Madanandapuram?

Other streets in Madanandapuram have varying guideline values, with rates ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value for these streets is Rs 3,520 per sq.ft.