Guideline Value for Venkateshwara Nagar Main Road

Venkateshwara Nagar Main Road guideline value

The current guideline value of Venkateshwara Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Venkateshwara Nagar Main Road has changed

The guideline value for Venkateshwara Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. However, from 2017 to the 2024 revision, the guideline value increased significantly by 64% to reach Rs 3,850 per sq.ft.

Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is the same as the current value for Venkateshwara Nagar Main Road.

• Venkateshwara Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Venkateshwara Nagar: Rs 3,850 per sq.ft (2024)
• Venkatesa Perumal Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Nagar Main Road?

The Venkateshwara Nagar Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value serves as a reference point for calculating the applicable fees, ensuring that the transaction is documented accurately in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar Main Road?

The current guideline value of Venkateshwara Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for Venkateshwara Nagar Main Road?

Venkateshwara Nagar Main Road is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office covering Venkateshwara Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Venkateshwara Nagar Main Road?

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 guideline value, the stamp duty would be Rs 2,69,500.