Guideline Value for Venkateswara Nagar - II

Venkateswara Nagar - II guideline value

The current guideline value of Venkateswara Nagar - II is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Mevaloorkuppam B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Venkateswara Nagar - II has changed

The guideline value for Venkateswara Nagar - II has seen several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft, which remained unchanged at Rs 300 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and this same increase of 49% is observed when comparing the 2017 figure to the 2024 figure. The guideline value has not changed from 2023 to 2024, remaining at Rs 300 per sq.ft.

Guideline values in Mevaloorkuppam B

Mevaloorkuppam B consists of 84 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 100 to Rs 6,200 per sq.ft. The median value is Rs 400 per sq.ft, placing Venkateswara Nagar - II's 2024 figure below this median.

• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• VGP Industrial Form: Rs 700 per sq.ft (2024)
• VGP Queens Town: Rs 700 per sq.ft (2024)
• Vijayashanthi Infinite: Rs 1,320 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)
• Vinayagar Koil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar - II

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 - II?

The Sub Registrar Office that covers Venkateswara Nagar - II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mevaloorkuppam B. It determines the minimum value on which the stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value serves as a reference point for the transaction. Buyers and sellers must be aware of this value to ensure that they comply with legal requirements and avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar - II?

The current guideline value of Venkateswara Nagar - II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2023, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to the current value. There are no figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification for Venkateswara Nagar - II?

Venkateswara Nagar - II is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Venkateswara Nagar - II?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.

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

The Sub Registrar Office for Venkateswara Nagar - II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.