Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 1,300 per sq.ft, as per the 2023 revision. This area falls under Nalambakkam village and is classified as Residential Special Type - II. The relevant Sub Registrar Office (SRO) for this locality is the Gooduvancheri SRO.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 167 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 678%. However, by the 2017 revision, the value decreased to Rs 871 per sq.ft, reflecting a decline of 33%. The most recent revision in 2023 brought the guideline value back to Rs 1,300 per sq.ft, representing an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 678%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Venkateswara Nagar is part of this locality, and the guideline value per sq.ft is Rs 1,300 as of the latest revision. There are no other streets in Nalambakkam under the Gooduvancheri SRO for which figures are provided.

Stamp duty and registration fee for property in Venkateswara Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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 Nalambakkam

The guideline value is a critical factor when buying or selling property in Nalambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, depending on which is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 1,300 per sq.ft, as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 167 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and returned to Rs 1,300 per sq.ft in 2023.

What is the classification of land in Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where is the Gooduvancheri SRO located?

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

How are stamp duty and registration fees calculated in Venkateswara Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,17,000.