Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Azhakoor village under the Sriperumpudur SRO, classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. The subsequent revision in 2023 brought the value back to Rs 200 per sq.ft, and the latest revision in 2024 maintained this figure, showing no change from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Azhakoor

In Azhakoor village, there are 18 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 350 per sq.ft. The median value for these streets is Rs 225 per sq.ft, indicating that Venkateswara Nagar's 2024 figure is below this median.

• Vijaya Nagar: Rs 300 per sq.ft (2024)
• Vishnu Nagar: Rs 100 per sq.ft (2024)
• Sri Sundararaja Perumal City: Rs 200 per sq.ft (2024)
• Sri Selva Vingnesh Nagar: Rs 300 per sq.ft (2024)
• Sriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Srimathi Sankar Nagar: Rs 200 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Venkateswara Nagar?

The Sub Registrar Office that covers Venkateswara Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Azhakoor, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is bought or sold, the guideline value helps in assessing the transaction value for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What is the median guideline value in Azhakoor?

The median guideline value in Azhakoor is Rs 225 per sq.ft, with Venkateswara Nagar's value being below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,00,000, leading to a stamp duty of Rs 14,000 and a registration fee of Rs 4,000, totaling Rs 18,000.

Which office handles the registration for Venkateswara Nagar?

The Sriperumpudur Sub Registrar Office handles registration for Venkateswara Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.