Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar, located in Maathoor village under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III 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 the 2012 revision, the value was set at Rs 250 per sq.ft. This figure remained unchanged in the 2017 revision, where it was Rs 167 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. The current 2024 revision maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Venkateshwara Nagar's 2024 figure below this median.

• VGP Jayanthi Town: Rs 400 per sq.ft (2024)
• VGP Jayanthi Town Part-I: Rs 400 per sq.ft (2024)
• Valluvar Street: Rs 500 per sq.ft (2024)
• V.O.C Street: Rs 500 per sq.ft (2024)
• Town House Phase-II @ Temple Green: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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 Maathoor

The guideline value is a crucial factor in the registration process when buying or selling property in Maathoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to calculate the applicable taxes. Buyers and sellers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision maintaining it at Rs 250 per sq.ft. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012.

What is the land classification for Venkateshwara Nagar?

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

What are the stamp duty and registration fees for property in Venkateshwara Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000. The stamp duty is Rs 17,500, and the registration fee is Rs 5,000, totaling Rs 22,500.

Which Sub Registrar Office covers Venkateshwara Nagar?

The Sunguvarchattram Sub Registrar Office covers Venkateshwara Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.