Guideline Value for Venkateswara Nagar

Venkateswara Nagar guideline value

The current guideline value of Venkateswara Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Atthivakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara Nagar has changed

In the 2003 revision, the guideline value was Rs 25 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a 700% rise. The value then saw a further increase to Rs 300 per sq.ft in 2012, which represented a decrease of 33% from the previous figure. In 2017, the value was revised to Rs 201 per sq.ft, and then it increased to Rs 300 per sq.ft in 2023, showing a 49% increase.

The most recent revision in 2024 set the guideline value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 1220%. The register does not have a figure for the year 2002 for this street.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 275 to Rs 1,400 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Venkateswara Nagar is below this median.

• Vijaya Lakshmi Nagar: Rs 330 per sq.ft (2024)
• Y.S.Aveune: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar: Rs 275 per sq.ft (2024)
• Sun City: Rs 1,045 per sq.ft (2024)
• Sri Sathiya Narayana Garden: Rs 275 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkateswara Nagar?

The Venkateswara Nagar area falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

When purchasing property, the guideline value helps in assessing the financial obligations involved in the transaction. It is essential to reference the current 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 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 25 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, marking an overall increase of 1220% over this period.

What is the registration office for Venkateswara Nagar?

The registration office covering Venkateswara Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Venkateswara Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 330 per sq.ft, the stamp duty would be Rs 23,100.

What are the other streets in Atthivakkam with guideline values?

Other streets in Atthivakkam include Vijaya Lakshmi Nagar at Rs 330 per sq.ft, Y.S.Aveune at Rs 1,000 per sq.ft, and Thirupathi Nagar at Rs 275 per sq.ft, among others.