Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Nemili village under the Sriperumpudur SRO, is Rs 250 per sq.ft. This value is effective from the 2024 revision, which came into effect on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 110 per sq.ft. This increased to Rs 250 per sq.ft in 2012, marking a rise of 127%. However, in 2017, the value dropped to Rs 167 per sq.ft, a decrease of 33%. The value then increased again to Rs 250 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in no change from the previous year.

From 2017 to 2023, there was a significant increase of 50%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 127%.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the guideline value of Venkateswara Nagar.

• Venkateswara nagar extn: Rs 250 per sq.ft (2024)
• V.G.P. Chakra Town - I: Rs 600 per sq.ft (2024)
• V.G.P. Chakra Town - II: Rs 600 per sq.ft (2024)
• Va.Voo.Si Street: Rs 210 per sq.ft (2024)
• Theru Veedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Nemili. It serves as the base value for calculating stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal documentation and taxation purposes. It is advisable to consult the latest guideline values to ensure compliance during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in both 2023 and 2024.

What is the land classification for Venkateswara Nagar?

The land classification for Venkateswara Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Venkateswara Nagar?

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

How is the stamp duty calculated for properties in Venkateswara Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 17,500.