Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value for Venkateswara Nagar, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 155 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 223% rise. However, it saw a decrease to Rs 335 per sq.ft in 2017, which was a 33% drop from the previous figure. The guideline value remained at Rs 500 per sq.ft in both 2023 and 2024, indicating no change between these two revisions.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 500 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 223%.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median value also at Rs 500 per sq.ft. Venkateswara Nagar's 2024 figure aligns with this median.

• Vatsala City Extn: Rs 500 per sq.ft (2024)
• Vatsala City: Rs 500 per sq.ft (2024)
• Subramaniya Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Gayathri Dr.City Phase-II & V: Rs 500 per sq.ft (2024)
• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. 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?

The Sub Registrar Office that covers Venkateswara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korukanthangal. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable duties and fees. This ensures that the registration process is conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 155 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Special Type - I.

What are the other streets in Korukanthangal with the same guideline value?

Other streets in Korukanthangal with a guideline value of Rs 500 per sq.ft include Vatsala City Extn, Vatsala City, Subramaniya Nagar, Sri Lakshmi Nagar, Sri Gayathri Dr.City Phase-II & V, and Sri Gayathri Co-op Mega Nagar.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.