Guideline Value for Venkateswara Nagar Extension

Venkateswara Nagar Extension guideline value

The current guideline value of Venkateswara Nagar Extension 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, classified as Commercial Class I Type - I.

How the guideline value of Venkateswara Nagar Extension has changed

Over the years, the guideline value of Venkateswara Nagar Extension has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which then increased dramatically to Rs 5,800 per sq.ft in 2012, marking a rise of 480%. However, the value decreased to Rs 3,886 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 5,800 per sq.ft in 2023, followed by a further increase to Rs 6,380 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 538%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have 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. The guideline value of Venkateswara Nagar Extension is above this median.

• Venkateswara Avenue Road: Rs 3,520 per sq.ft (2024)
• Venkateswara Avenue Lane: Rs 3,520 per sq.ft (2024)
• Venkateshwara Nagar 4th Main Road: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 3rd Main Road: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 25th Street: Rs 6,380 per sq.ft (2024)
• Venkateshwara Nagar 24th Street: Rs 6,380 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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar Extension?

The Venkateswara Nagar Extension is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is taken into account to calculate the applicable fees. Buyers and sellers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar Extension?

The current guideline value of Venkateswara Nagar Extension is Rs 6,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 1,000 per sq.ft to Rs 6,380 per sq.ft in 2024, marking an overall increase of 538%.

What is the land classification for Venkateswara Nagar Extension?

Venkateswara Nagar Extension is classified as Commercial Class I Type - I, which indicates its zoning for commercial activities.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Venkateswara Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 63,80,000, the stamp duty would be Rs 4,46,600 at 7%.