Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Venkateswara Nagar has changed

The guideline value for Venkateswara Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,900 per sq.ft in 2012. However, it dropped to Rs 1,943 per sq.ft in 2017 before rising again to Rs 2,900 per sq.ft in 2023. The current 2024 revision shows a further increase to Rs 3,190 per sq.ft.

Looking at the changes, the guideline value increased by 383% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. Following that, there was a notable increase of 49% from 2017 to 2023, and a further rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 432%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. Venkateswara Nagar's 2024 figure is below this median.

• Venkatesan Nagar Annuxe: Rs 3,190 per sq.ft (2024)
• Venkatesan Nagar: Rs 3,190 per sq.ft (2024)
• Vignesh Nagar: Rs 3,190 per sq.ft (2024)
• Vasuki Nagar: Rs 3,520 per sq.ft (2024)
• V.N.P. Avenue: Rs 3,520 per sq.ft (2024)
• V.N.T. Avenue: Rs 3,520 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 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, totaling Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the registration process is transparent and based on officially recognized values. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, showing an overall increase of 432% over this period.

What is the land classification for Venkateswara Nagar?

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

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

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Which office handles property registrations in Venkateswara Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Venkateswara Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.