Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,000 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen significant changes over the years. The earliest recorded figure is from 2002, where the value was Rs 139 per sq.ft. This increased to Rs 160 per sq.ft in 2003, marking a growth of 15%. The value then rose sharply to Rs 400 per sq.ft in 2007, which is an increase of 150%. Following this, the guideline value surged to Rs 1,900 per sq.ft in 2012, a remarkable increase of 375%. However, from 2012 to 2017, the value dropped to Rs 1,273 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,000 per sq.ft, which is an increase of 57% from the 2017 figure.

Overall, from 2002 to 2024, the guideline value has increased by 1,339%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, positioning Venkateswara Nagar's 2024 figure below this median.

• Venkateswara Nagar 1st Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar 2nd Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar 3rd Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ayyappan Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ext 1 Street: Rs 2,000 per sq.ft (2024)
• Venkateswara Nagar Ext 2 Street: Rs 2,000 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty, charged at 7%, would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000. Together, the total cost for these fees would be Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Ambattur Sub Registrar Office. The address is 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 Thirumullaivoyal

The guideline value is a crucial factor in the registration process of property transactions in Thirumullaivoyal. When a property is bought or sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. The guideline value helps maintain transparency and fairness in property dealings, making it an important aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 139 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 1,339%.

What is the land classification for Venkateswara Nagar?

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

What are the registration fees for property in Venkateswara Nagar?

The registration fees for a property in Venkateswara Nagar include a stamp duty of 7% and a registration fee of 2%, based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Venkateswara Nagar?

The Ambattur Sub Registrar Office handles property registrations in Venkateswara Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.