Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Sekkadu village and falls under the Avadi SRO, classified as Residential Class II 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 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased it to Rs 1,200 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 930 to Rs 4,800 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is equal to the guideline value of Venkateswara Nagar.

• Venkatesan Nagar: Rs 1,320 per sq.ft (2024)
• Vgn Bloom: Rs 2,680 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)
• Viliyanjiyambakkam Road: Rs 2,250 per sq.ft (2024)
• Varadharaja Nagar: Rs 930 per sq.ft (2024)
• Varadhapuri Amman Koil Street: Rs 1,075 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sekkadu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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 charges. This ensures that the government receives the appropriate revenue from property 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for Venkateswara Nagar?

The Avadi Sub Registrar Office is responsible for Venkateswara Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated in Venkateswara Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 92,400.