Guideline Value for Venkateswara Nagar MAIN ROAD

Venkateswara Nagar MAIN ROAD guideline value

The current guideline value of Venkateswara Nagar MAIN ROAD is Rs 4,125 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, classified as Mixed Type - I land.

How the guideline value of Venkateswara Nagar MAIN ROAD has changed

The guideline value for Venkateswara Nagar MAIN ROAD has seen significant changes over the years. In 2003, the guideline value was Rs 406 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a 72% rise. The value then jumped dramatically to Rs 3,750 per sq.ft in 2012, reflecting a 436% increase. However, it decreased to Rs 2,512 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,750 per sq.ft in 2023, before reaching the current figure of Rs 4,125 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 916%. The register does not provide figures for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as per the 2024 revision. The median value in this area is Rs 2,530 per sq.ft, and the guideline value for Venkateswara Nagar MAIN ROAD is above this median.

• Venkateswara Nagar: Rs 4,125 per sq.ft (2024)
• Veluswamy Nagar: Rs 3,300 per sq.ft (2024)
• Velswamy Nagar Extension: Rs 4,125 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,200 per sq.ft (2024)
• Vel Murugan Colony: Rs 2,200 per sq.ft (2024)
• Vallakottai Murugan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar MAIN ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500. Therefore, the total cost for stamp duty and registration fees would be Rs 3,71,250. 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 Venkateswara Nagar MAIN ROAD?

The Sub Registrar Office that covers Venkateswara Nagar MAIN ROAD is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai, as it determines the minimum value at which property transactions are registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar MAIN ROAD?

The current guideline value of Venkateswara Nagar MAIN ROAD is Rs 4,125 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 406 per sq.ft in 2003 to Rs 4,125 per sq.ft in 2024, reflecting an overall increase of 916% over this period.

What is the land classification for Venkateswara Nagar MAIN ROAD?

Venkateswara Nagar MAIN ROAD is classified as Mixed Type - I land under the Pallavaram SRO.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 41,25,000 would incur a stamp duty of Rs 2,88,750 and a registration fee of Rs 82,500.