Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Mevaloorkuppam B village under the Sriperumpudur SRO, is Rs 1,320 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 seen significant changes over the years. The 2017 revision set the guideline value at Rs 201 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a 99% rise. The most recent revision in 2024 brought the value to Rs 1,320 per sq.ft, which is an increase of 230% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 557%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which means Venkateswara Nagar's current guideline value is above that median.

• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• VGP Industrial Form: Rs 700 per sq.ft (2024)
• VGP Queens Town: Rs 700 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)
• Vijayashanthi Infinite: Rs 1,320 per sq.ft (2024)
• Vinayagar Koil Street: 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar?

The Venkateswara Nagar area is covered by 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 B

The guideline value is a crucial factor in the registration process of property transactions in Mevaloorkuppam B. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the property's worth. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 201 per sq.ft to Rs 1,320 per sq.ft in 2024, which is an overall increase of 557%.

What is the median guideline value for streets in Mevaloorkuppam B?

The median guideline value for streets in Mevaloorkuppam B is Rs 400 per sq.ft, while Venkateswara Nagar's current value is above this median.

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

The stamp duty for a property in Venkateswara Nagar is 7%, and the registration fee is 2%. For a property valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Which office handles registrations for Venkateswara Nagar?

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