Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Thandalam village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar has changed

Over the years, the guideline value for Venkateswara Nagar has seen several revisions. In 2007, the guideline value was Rs 75 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a substantial rise of 433%. However, from 2012 to 2017, there was a decrease to Rs 268 per sq.ft, reflecting a drop of 33%. The value then increased again to Rs 400 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 433%.

Guideline values in Thandalam

In Thandalam, there are 36 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the guideline value of Venkateswara Nagar.

• Varalakshmi Nagar: Rs 300 per sq.ft (2024)
• Uma Maheswari Nagar: Rs 300 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 505 per sq.ft (2024)
• Telophone Exchange Street: Rs 400 per sq.ft (2024)
• Subasree Nagar: Rs 300 per sq.ft (2024)
• Sri Iyappa 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 Thandalam

The guideline value is a crucial factor when buying or selling property in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 75 per sq.ft to Rs 400 per sq.ft in 2024, with notable changes in between the revisions.

What is the land classification of Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Class II Type - I, which influences its guideline value and property transactions.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

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.