Guideline Value for Venkateswara Nagar Extn

Venkateswara Nagar Extn guideline value

The current guideline value for Venkateswara Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pozhichalur village under the Pammal Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Venkateswara Nagar Extn has changed

The guideline value for Venkateswara Nagar Extn has seen significant changes over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a substantial rise of 235%. Following this, the value escalated to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, representing a 10% rise from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Venkateswara Nagar Extn is above this median.

• Venkateswara Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar Extn?

The Venkateswara Nagar Extn is covered by 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 Pozhichalur

The guideline value is a critical factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the guideline value as it can significantly impact the overall transaction costs. Buyers should ensure that they are informed about the current guideline values to avoid any unexpected financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Venkateswara Nagar Extn?

The current guideline value for Venkateswara Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification of Venkateswara Nagar Extn?

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

Where can I find more information about the registration office?

The Pammal Sub Registrar Office covers Venkateswara Nagar Extn, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the official site.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.