Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Class II 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 2003, which was Rs 176 per sq.ft. This figure increased to Rs 500 per sq.ft in 2007, then surged to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023 and has now reached Rs 1,600 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2003 to 2007, there was an increase of 184%. The value then increased by 200% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. The jump from 2017 to 2023 was 49%, followed by a 7% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 809%. The register has no figure for this street in 2002.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Venkateshwara Nagar's 2024 guideline value is below this median.

• Venkateshwara Nagar extention: Rs 1,600 per sq.ft (2024)
• Venkateswara Main Road: Rs 1,600 per sq.ft (2024)
• Venkataraman Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Venkatachalapathi Street: Rs 1,600 per sq.ft (2024)
• Venkatachalam Street: Rs 1,600 per sq.ft (2024)
• Venkatram 1st Street (S.V.Nagar): Rs 1,900 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, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 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 Oragadam

The guideline value is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

When a property is registered, the higher amount between the guideline value and the sale price is used to determine the applicable duties. This ensures compliance with regulatory requirements and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 176 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 809% over the years.

What is the land classification of Venkateshwara Nagar?

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

Where can I find the Sub Registrar Office for 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 stamp duty calculated for properties in Venkateshwara Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot with a guideline value of Rs 16,00,000, the total stamp duty and registration fees would amount to Rs 1,44,000.