Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Karanaithangal village, under the Sunguvarchattram 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 seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 revision, where the value was Rs 335 per sq.ft. The 2023 revision maintained the value at Rs 500 per sq.ft, and the same value continues into the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 500 per sq.ft.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 471 to Rs 1,000 per sq.ft, with the median value being Rs 500 per sq.ft. Venkateshwara Nagar's 2024 figure aligns with this median.

• Thambaram-Kanchipuram Main Road: Rs 1,000 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 500 per sq.ft (2024)
• Priya Nagar: Rs 800 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 500 per sq.ft (2024)
• Perinjambakkam Salai: Rs 500 per sq.ft (2024)
• Kullakkarai Street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateshwara Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karanaithangal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. 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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a significant increase of 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

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 located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft has a guideline value of Rs 5,00,000, leading to a total stamp duty and registration fee of Rs 45,000.