Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar has changed

The guideline value of Venkateswara Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 241 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,206 per sq.ft in 2017, marking a 302% increase from 2007. The value then rose to Rs 1,800 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 722%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO carrying a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the guideline value of Venkateswara Nagar.

• Venkateswara Nagar 1st Cross Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar 1st Street (Park Road): Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar 2nd Street, 1st Cross Street: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar 2nd Street, 2nd Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Venkateswara Nagar?

The Venkateswara Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Anakaputhur. 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 sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 241 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 722% over the years.

What are the other streets in Anakaputhur with the same guideline value?

Several other streets in Anakaputhur have a guideline value of Rs 1,980 per sq.ft in 2024, including Venkateswara Nagar 1st Cross Street, Venkateswara Nagar 1st Street (Park Road), and more.

What is the stamp duty on property in Venkateswara Nagar?

The stamp duty on property in Venkateswara Nagar is 7% of the guideline value or sale price, whichever is higher. For example, on a plot valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.