Guideline Value for Venkateswara Nagar Main Road

Venkateswara Nagar Main Road guideline value

The current guideline value of Venkateswara Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar Main Road has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 16%. However, from 2017 to 2024, the value increased significantly to Rs 1,600 per sq.ft, which is a rise of 59%. Overall, from 2012 to 2024, the guideline value has increased by 33%.

The register has no figure for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with the median being Rs 1,600 per sq.ft. The guideline value of Venkateswara Nagar Main Road is equal to this median.

• Venkateswara Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Venkateswara Nagar (Ward No.26): Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Venkateswara Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Venkat Nagar: Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Main Road?

The Sub Registrar Office that covers Venkateswara Nagar Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is used as a benchmark for property transactions in Madhavaram. When registering a property, the guideline value determines the stamp duty and registration fees that must be paid.

It is essential for buyers and sellers to be aware of the guideline value as it affects the total cost of property transactions. Accurate knowledge of these values ensures compliance with local regulations during the buying or selling 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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 33%.

What is the land classification of Venkateswara Nagar Main Road?

Venkateswara Nagar Main Road is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Venkateswara Nagar Main Road?

The Sub Registrar Office for Venkateswara Nagar Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated on properties in Venkateswara Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.