Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Venkateshwara Nagar has changed

The guideline value for Venkateshwara Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 395 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a 52% rise. The value further surged to Rs 3,200 per sq.ft in 2012, reflecting a significant increase of 433%. However, in 2017, the guideline value dropped to Rs 2,144 per sq.ft, which was a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 791%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Venkateshwara Nagar's 2024 figure above this median.

• Venkateshwara Cross Street: Rs 3,520 per sq.ft (2024)
• Venkateshwara Street: Rs 3,520 per sq.ft (2024)
• Vembuli Nagar: Rs 3,300 per sq.ft (2024)
• Vembuliamman Koil 8th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 7th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total costs together to Rs 3,16,800. It is important to note that 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?

The Sub Registrar Office that covers Venkateshwara Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the Registration Department and can vary based on the location and classification of the property.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 395 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 791%.

What is the land classification of Venkateshwara Nagar?

Venkateshwara Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Venkateshwara Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Venkateshwara Nagar?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 35,20,000 incurs a stamp duty of Rs 2,46,400 at 7%.