Guideline Value for Venkateshwara Nagar extention

Venkateshwara Nagar extention guideline value

The current guideline value for Venkateshwara Nagar extention is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar extention has changed

The guideline value for Venkateshwara Nagar extention has seen several revisions over the years. The earliest available figure is from 2003, which was Rs 176 per sq.ft. This increased to Rs 500 per sq.ft in 2007, and then jumped significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 1,600 per sq.ft.

In terms of percentage changes, the increase from 2023 to 2024 is +7%. From 2017 to 2023, the increase was +49%. The value decreased by -33% from 2012 to 2017. A significant increase of +200% occurred from 2007 to 2012, and from 2003 to 2007, the increase was +184%. Overall, from 2003 to 2024, the guideline value has risen by +809%. There is no figure available for the year 2002 in the register for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value for Venkateshwara Nagar extention below this median.

• Venkateswara Main Road: Rs 1,600 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,600 per sq.ft (2024)
• Venkatram 1st Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Venkatram 2nd Street (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Venkataraman Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar extention

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateshwara Nagar extention?

The Sub Registrar Office that covers Venkateshwara Nagar extention is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar extention?

The current guideline value for Venkateshwara Nagar extention is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +809% over the years.

What is the registration office for Venkateshwara Nagar extention?

The registration office for Venkateshwara Nagar extention is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.