Guideline Value for Venkatesan Nagar

Venkatesan Nagar guideline value

The current guideline value for Venkatesan Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Venkatesan Nagar has changed

The guideline value for Venkatesan Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a change of +460%. However, it then dropped to Rs 938 per sq.ft in 2017, a decrease of -33%. The value rose again to Rs 1,400 per sq.ft in 2023, and most recently to Rs 1,540 per sq.ft in 2024, which is an increase of +10%.

From 2017 to 2023, there was a notable increase of +49%. Overall, from 2007 to 2024, the guideline value has increased by +516%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the current guideline value for Venkatesan Nagar.

• V.G.N. Temple Town: Rs 1,760 per sq.ft (2024)
• Vedhapureeshwarar Koil Street: Rs 1,540 per sq.ft (2024)
• Vedhapureeshwarar Cross Koil Street: Rs 1,540 per sq.ft (2024)
• Udhaumkarangal Main Road: Rs 1,760 per sq.ft (2024)
• Yadaval Street: Rs 1,540 per sq.ft (2024)
• Yadaval Street Mayana Road: Rs 1,540 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 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to 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 precise calculations.

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. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Thiruverkadu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkatesan Nagar?

The current guideline value of Venkatesan Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by +516%, from Rs 250 per sq.ft to Rs 1,540 per sq.ft as of the 2024 revision.

What are the stamp duty and registration fees for property in Venkatesan Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 15,40,000, the total fees would amount to Rs 1,38,600.

Which Sub Registrar Office handles registrations for Venkatesan Nagar?

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

What is the significance of the guideline value?

The guideline value is used to determine the minimum price for property registration, ensuring that appropriate stamp duty and registration fees are collected by the government during property transactions.