Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 4,125 per sq.ft, effective from 1 July 2024. This area is classified as Mixed 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 2012 revision set the value at Rs 3,750 per sq.ft, which was then reduced to Rs 2,512 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,750 per sq.ft, and the most recent 2024 revision has raised it to Rs 4,125 per sq.ft.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Venkateswara Nagar's 2024 figure above that median.

• Venkateswara Nagar MAIN ROAD: Rs 4,125 per sq.ft (2024)
• Veluswamy Nagar: Rs 3,300 per sq.ft (2024)
• Velswamy Nagar Extension: Rs 4,125 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,200 per sq.ft (2024)
• Vel Murugan Colony: Rs 2,200 per sq.ft (2024)
• Vallakottai Murugan Street: Rs 1,980 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 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, making the total charges Rs 3,71,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar?

The Sub Registrar Office that covers Venkateswara Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial obligations involved.

When a property is registered, the guideline value is used to calculate the applicable charges, which are based on the higher value between the guideline value and the actual sale price. This ensures transparency and consistency in the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,750 per sq.ft in 2012 to Rs 2,512 per sq.ft in 2017, then to Rs 3,750 per sq.ft in 2023, and finally to Rs 4,125 per sq.ft in 2024.

What is the land classification for Venkateswara Nagar?

Venkateswara Nagar is classified as Mixed Type - I, which indicates the type of land usage permitted in the area.

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

The Sub Registrar Office for Venkateswara Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty for properties in Venkateswara Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.