Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village under the Kunrathur SRO and is classified as Residential Special 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 2003, the guideline value was Rs 30 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2007, marking a 400% rise. The value remained at Rs 150 per sq.ft until 2012 when it was revised to Rs 1,500 per sq.ft, a remarkable increase of 900%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 saw the value rise to Rs 1,500 per sq.ft, which then increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 5400%. The register does not contain figures for the year 2002 for this street.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for this area is Rs 1,650 per sq.ft, which matches the current value for Venkateswara Nagar.

• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)
• V.V.Nagar: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Venkateswara Nagar?

The Sub Registrar Office that covers Venkateswara Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 5400% over this period.

What is the land classification of Venkateswara Nagar?

Venkateswara Nagar is classified as Residential Special Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a plot valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

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

The Sub Registrar Office for Venkateswara Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details through the provided link.