Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Mevaloorkuppam village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Venkateswara Nagar has changed

Over the years, the guideline value of Venkateswara Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 65 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 362% increase. However, from 2012 to 2017, the value dropped to Rs 201 per sq.ft, a decrease of 33%. The subsequent revision in 2023 maintained the value at Rs 300 per sq.ft, and the current 2024 revision also holds the value steady at Rs 300 per sq.ft, reflecting no change from the previous year.

In summary, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 362%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft. The median guideline value in this village is Rs 400 per sq.ft, indicating that Venkateswara Nagar's current figure is below this median.

• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)
• Vinayagar Koil Street: Rs 300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 300 per sq.ft (2024)
• Sun Tech Co-op City: Rs 900 per sq.ft (2024)
• Subasree Nagar: Rs 300 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. 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 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 Mevaloorkuppam

The guideline value plays a crucial role during property transactions in Mevaloorkuppam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential for buyers to understand this value as it directly affects the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 65 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropping to Rs 201 per sq.ft in 2017, and remaining at Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, which indicates that Venkateswara Nagar's current value is below this median.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Venkateswara Nagar located?

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