Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 803 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village and falls under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which then increased to Rs 268 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 200%, bringing the value to Rs 803 per sq.ft. The 2023 to 2024 revision showed no change, maintaining the guideline value at Rs 803 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Venkateswara Nagar's 2024 guideline value is below this median.

• Venkatraman Street: Rs 880 per sq.ft (2024)
• Veppangulam Street: Rs 880 per sq.ft (2024)
• Venkataraman Street: Rs 880 per sq.ft (2024)
• Vengadachalam Street: Rs 880 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 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 803 per sq.ft, the total guideline value would be Rs 8,03,000. The stamp duty at 7% would amount to Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total cost for these fees to Rs 72,270. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Kovilpathagai. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 803 per sq.ft in 2023 and 2024. Overall, there has been a 101% increase from 2012 to 2024.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai have varying guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. For example, Venkatraman Street, Veppangulam Street, and Venkataraman Street are all valued at Rs 880 per sq.ft in 2024.

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

For a 1,000 sq.ft property at Rs 803 per sq.ft, the total guideline value would be Rs 8,03,000. The stamp duty would be Rs 56,210 and the registration fee would be Rs 16,060, totaling Rs 72,270 for these fees.

Which office handles the registration for Venkateswara Nagar?

The registration for Venkateswara Nagar is handled by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.