Guideline Value for Venkateswara Nagar Extension

Venkateswara Nagar Extension guideline value

The current guideline value of Venkateswara Nagar Extension is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class I Type - I.

How the guideline value of Venkateswara Nagar Extension has changed

The guideline value for Venkateswara Nagar Extension has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017 before rising to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The changes between revisions include a 233% rise from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023.

Guideline values in Koyakbedu

Koyakbedu consists of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, placing Venkateswara Nagar Extension's 2024 figure above this median.

• Venkateswara Nagar Extension I and II: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar Ist Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Venkateswara Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar Extension?

The Sub Registrar Office that covers Venkateswara Nagar Extension is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is assessed to ensure that the transaction is documented at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Extension?

The current guideline value of Venkateswara Nagar Extension is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, increasing from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various fluctuations in between.

What is the stamp duty rate for property in Venkateswara Nagar Extension?

The stamp duty rate for property transactions in Venkateswara Nagar Extension is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venkateswara Nagar Extension?

The Sub Registrar Office for Venkateswara Nagar Extension is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties in Koyakbedu?

The guideline value for properties in Koyakbedu is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values.