Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value for Venkateshwara Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village and falls under the Ambattur SRO. The land classification for this street is Residential Class V 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 earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. This increased to Rs 469 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, which is an increase of 113%. The latest revision in 2024 has set the guideline value at Rs 1,002 per sq.ft, showing no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Venkateshwara Nagar. Overall, the guideline value has increased by 43% from 2012 to 2024.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, indicating that Venkateshwara Nagar's 2024 figure is below this median.

• Venkata Cross Street: Rs 1,001 per sq.ft (2024)
• Venkatraman Street: Rs 1,700 per sq.ft (2024)
• Vengatachalapathi Street: Rs 1,001 per sq.ft (2024)
• Varadhan Street: Rs 1,700 per sq.ft (2024)
• Vannar Street: Rs 1,000 per sq.ft (2024)
• VittalRao Street: Rs 1,700 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 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. 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 to estimate costs based on your specific property details.

Which Sub Registrar Office covers Venkateshwara Nagar?

The Sub Registrar Office that covers Venkateshwara Nagar is the Ambattur Sub Registrar Office, located at 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 Menambedu

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 43% during this period.

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

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140, and the registration fee would be Rs 20,040, totaling Rs 90,180.

Which Sub Registrar Office covers Venkateshwara Nagar?

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

How is the guideline value determined for properties in Menambedu?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions. It serves as the minimum value for property registration.