Guideline Value for Venkateswara Nagar Main Road

Venkateswara Nagar Main Road guideline value

The current guideline value of Venkateswara Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Pozhichalur village under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Venkateswara Nagar Main Road has changed

The guideline value for Venkateswara Nagar Main Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision. This change represents a 10% increase from the previous year.

Looking further back, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. Between 2017 and 2023, the value increased by 49%. Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 Main Road is above this median.

• Venkateswara Nagar Extn: Rs 2,200 per sq.ft (2024)
• 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 2nd Cross Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar Main Road?

The Venkateswara Nagar Main Road falls under the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 when registering property transactions in Pozhichalur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be 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 Main Road?

The current guideline value of Venkateswara Nagar Main Road 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over the seven years.

What are the stamp duty and registration fees for property in Venkateswara Nagar Main Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Venkateswara Nagar Main Road?

The Pammal Sub Registrar Office handles registrations for Venkateswara Nagar Main Road, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Venkateswara Nagar Main Road?

Venkateswara Nagar Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.