Guideline Value for Venkateswara nagar extn

Venkateswara nagar extn guideline value

The current guideline value for Venkateswara nagar extn is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Nemili village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Venkateswara nagar extn has changed

Over the years, the guideline value for Venkateswara nagar extn has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was decreased to Rs 167 per sq.ft, marking a significant drop of 33% from the previous revision. The guideline value then increased by 50% to Rs 250 per sq.ft in 2023, and it has remained the same in the 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, when comparing the guideline values from 2012 to 2024, there has been no net change, as the value remains at Rs 250 per sq.ft.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current value for Venkateswara nagar extn.

• Venkateswara Nagar: Rs 250 per sq.ft (2024)
• V.G.P. Chakra Town - I: Rs 600 per sq.ft (2024)
• V.G.P. Chakra Town - II: Rs 600 per sq.ft (2024)
• Va.Voo.Si Street: Rs 210 per sq.ft (2024)
• Theru Veedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Venkateswara nagar extn

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkateswara nagar extn?

The Sub Registrar Office that covers Venkateswara nagar extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nemili. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value helps in determining the official value of the property, which is essential for legal documentation and taxation purposes. Buyers and sellers should always refer to the latest guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Venkateswara nagar extn?

The current guideline value of Venkateswara nagar extn is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 250 per sq.ft in 2024, which is the same as in 2023. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012.

What is the land classification for Venkateswara nagar extn?

Venkateswara nagar extn is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Venkateswara nagar extn?

The Sub Registrar Office for Venkateswara nagar extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Venkateswara nagar extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.