Guideline Value for Venkatesh Nagar

Venkatesh Nagar guideline value

The current guideline value of Venkatesh Nagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Venkatesh Nagar has changed

Over the years, the guideline value of Venkatesh Nagar has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in the subsequent revision in 2017, the value decreased to Rs 670 per sq.ft, a reduction of 33%. The guideline value then rose again to Rs 1,000 per sq.ft in both 2023 and the latest revision in 2024, showing no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 670 to Rs 3,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is equal to the 2024 figure for Venkatesh Nagar.

• Velan Nagar: Rs 1,000 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,000 per sq.ft (2024)
• Vatchala Garden Phase -II: Rs 1,000 per sq.ft (2024)
• Vatchala Garden II: Rs 1,000 per sq.ft (2024)
• Vatchala Garden: Rs 1,000 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkatesh Nagar?

The Sub Registrar Office that covers Venkatesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is an essential factor in determining the registration fees and stamp duty when buying or selling property in Adhanoor. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar?

The current guideline value of Venkatesh Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 200 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and returning to Rs 1,000 per sq.ft in 2023 and 2024.

What are the other streets in Adhanoor with the same guideline value?

Other streets in Adhanoor with a guideline value of Rs 1,000 per sq.ft include Velan Nagar, Vedachalam Nagar, Vatchala Garden Phase -II, Vatchala Garden II, Vatchala Garden, and Vasudevan Nagar.

What is the registration fee for property transactions?

The registration fee is typically calculated at 2% of the guideline value. For a property valued at Rs 10,00,000, the registration fee would be Rs 20,000.

Where can I find the Sub Registrar Office for Venkatesh Nagar?

The Gooduvancheri Sub Registrar Office covers Venkatesh Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.