Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Venkateswara Nagar has changed

The guideline value of Venkateswara Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft. This increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 360 per sq.ft in 2007, a substantial increase of 59%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a remarkable 235% increase from the 2007 figure. The register has no figure for this street in 2012.

In 2023, the guideline value was Rs 1,800 per sq.ft, which was a 49% increase from the 2017 revision. The most recent revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Venkateswara Nagar is below this median.

• Venkataraman Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Venkataraman Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Venkatachalam Street /Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Venkateswaran Street /Kamarajar Nagar: Rs 1,980 per sq.ft (2024)
• Velmurugan Street: Rs 1,760 per sq.ft (2024)
• Vellangani Street: Rs 1,760 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara Nagar?

The Sub Registrar Office that covers Venkateswara Nagar is 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 Pammal

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives 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 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890%.

What is the land classification of Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Class II Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated in Venkateswara Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.