Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 510 per sq.ft, effective from 1 July 2024. This area is located in Puthuper village and falls under the Sriperumpudur SRO, classified as Commercial Class I Type - II.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose to Rs 500 per sq.ft in 2023, and currently stands at Rs 510 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

Between revisions, the changes have varied. From 2007 to 2012, there was a notable increase of 400%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a slight increase of 2% was observed from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 410%.

Guideline values in Puthuper

Puthuper village has a total of 39 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,350 per sq.ft. The median guideline value in this village is Rs 400 per sq.ft, placing Venkateswara Nagar's current value above that median.

• Vasantham Nagar: Rs 400 per sq.ft (2024)
• Vinayagar Koil Street: Rs 200 per sq.ft (2024)
• Sriram Nagar: Rs 300 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathy Garden: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex-III: Rs 400 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 510 per sq.ft, the total guideline value amounts to Rs 5,10,000. The stamp duty, charged at 7%, would be Rs 35,700, while the registration fee at 2% amounts to Rs 10,200. Together, these fees total Rs 45,900. It is important to note that the 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 Puthuper

The guideline value is a crucial factor during the registration process of property transactions in Puthuper. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 510 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 510 per sq.ft in 2024, reflecting an overall increase of 410% over the years.

What is the median guideline value in Puthuper village?

The median guideline value in Puthuper village is Rs 400 per sq.ft, with Venkateswara Nagar's current value being above this median.

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

For a property valued at Rs 5,10,000, the stamp duty is Rs 35,700 and the registration fee is Rs 10,200, totaling Rs 45,900.

Which office handles property registration for Venkateswara Nagar?

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