Guideline Value for Venkateshwara Nagar

Venkateshwara Nagar guideline value

The current guideline value of Venkateshwara Nagar is Rs 6,380 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Venkateshwara Nagar has changed

The guideline value for Venkateshwara Nagar has seen significant changes over the years. In 2002, the value was Rs 404 per sq.ft, which increased to Rs 700 per sq.ft in 2003. The value continued to rise, reaching Rs 1,136 per sq.ft in 2007, and then jumped to Rs 5,800 per sq.ft in 2012. However, it decreased to Rs 3,886 per sq.ft in 2017. The value then rose again to Rs 5,800 per sq.ft in 2023 before reaching the current figure of Rs 6,380 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. The most significant change occurred between 2007 and 2012, with a 411% increase. Overall, from 2002 to 2024, the guideline value has increased by 1479%. The register has no figure for the years not listed.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Venkateshwara Nagar's 2024 figure is above this median.

• Venkateshwara Nagar 24th Street: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 25th Street: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 3rd Main Road: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 4th Main Road: Rs 6,380 per sq.ft (2024)
• Venkateswara Avenue Lane: Rs 3,520 per sq.ft (2024)
• Venkateswara Avenue Road: Rs 3,520 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 6,380 per sq.ft, the total guideline value amounts to Rs 63,80,000. The stamp duty at 7% would be Rs 4,46,600, and the registration fee at 2% would be Rs 1,27,600, bringing the total to Rs 5,74,200. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Venkateshwara Nagar?

The current guideline value of Venkateshwara Nagar is Rs 6,380 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 404 per sq.ft in 2002 to Rs 6,380 per sq.ft in 2024, reflecting an overall increase of 1479% over this period.

What is the land classification for Venkateshwara Nagar?

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

What is the stamp duty rate for properties in Venkateshwara Nagar?

The stamp duty rate for properties in Venkateshwara Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Venkateshwara Nagar located?

The Sub Registrar Office for Venkateshwara Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.