Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar, located in Mettupalayam village under the Sunguvarchattram SRO, is Rs 181 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkateshwara Nagar has changed

In the 2012 revision, the guideline value was Rs 180 per sq.ft. This figure saw a decrease of 33% in the subsequent 2017 revision, bringing it down to Rs 121 per sq.ft. However, from 2017 to 2023, there was a significant increase of 50%, raising the value back to Rs 181 per sq.ft, which remained unchanged in the 2024 revision.

The guideline value for Venkateshwara Nagar has remained consistent at Rs 181 per sq.ft for both the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft, with the median value being Rs 181 per sq.ft. Venkateshwara Nagar's 2024 figure aligns with this median.

• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• V.G.P Vinoth Town: Rs 181 per sq.ft (2024)
• Victoria Town Part-II: Rs 200 per sq.ft (2024)
• Vasantham Gardens: Rs 181 per sq.ft (2024)
• Vijay Nagar: Rs 181 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 181 per sq.ft, the guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, totaling Rs 16,290. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mettupalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both the buyer and seller comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Venkateshwara Nagar?

The current guideline value for Venkateshwara Nagar is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 181 per sq.ft from 2023 to 2024, increased by 50% from Rs 121 per sq.ft in 2017 to 2023, and decreased from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017.

What is the land classification for Venkateshwara Nagar?

The land classification for Venkateshwara Nagar is Residential Class II Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,81,000, the total fees would amount to Rs 16,290.

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. You can also find your SRO online.