Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, classified as Residential Class I 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 2007, the value was set at Rs 75 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in 2012, marking a substantial rise of 967%. However, the value then dropped to Rs 536 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 saw the value increase to Rs 800 per sq.ft, and finally, the current revision in 2024 has set the value at Rs 880 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1073%.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, which is equal to the current value for Venkateswara Nagar.

• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Venkatasubramaniya Nagar: Rs 770 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Velan Nagar: Rs 720 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 990 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venkateswara Nagar?

The Sub Registrar Office that covers Venkateswara Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nandambakkam. It determines the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When engaging in property transactions, it is essential to refer to the latest guideline values to ensure compliance with legal requirements and to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Venkateswara Nagar?

The current guideline value of Venkateswara Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 1073%.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft, which is the same as the current value for Venkateswara Nagar.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Venkateswara Nagar?

The Padappai Sub Registrar Office handles registrations for Venkateswara Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.