Guideline Value for Venkatesh Nagar

Venkatesh Nagar guideline value

The current guideline value of Venkatesh Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification is Residential Class IV Type - II.

How the guideline value of Venkatesh Nagar has changed

The guideline value for Venkatesh Nagar has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 450%. It is important to note that the register has no figures for Venkatesh Nagar for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Venkatesh Nagar's 2024 figure below this median.

• Venkateshwara Avenue and Extn: Rs 1,980 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,980 per sq.ft (2024)
• Venkateshwara Nagar S.No.185/3.211,212,213: Rs 1,320 per sq.ft (2024)
• Venkateshwara Road: Rs 1,320 per sq.ft (2024)
• Venkateshwarar Street: Rs 2,640 per sq.ft (2024)
• Venkateshwarar Street Extn: Rs 1,320 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Venkatesh Nagar?

The current guideline value of Venkatesh Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification for Venkatesh Nagar?

Venkatesh Nagar is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Venkatesh Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Venkatesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.