Guideline Value for Venkatheri Nagar

Venkatheri Nagar guideline value

The current guideline value of Venkatheri Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Venkatheri Nagar has changed

The guideline value of Venkatheri Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it saw a decrease to Rs 737 per sq.ft in 2017. The value then rose to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,210 per sq.ft as of the 2024 revision. The revisions for 2002 and 2003 do not have figures for this street.

From 2017 to 2023, the guideline value increased by 49%, followed by a further rise of 10% from 2023 to 2024. The overall change from 2007 to 2024 is a remarkable increase of 303%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Venkatheri Nagar is below this median.

• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Veeraraghava Nagar: Rs 3,630 per sq.ft (2024)
• Vithiyammigai Street: Rs 1,210 per sq.ft (2024)
• Vasudeva Nagar: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatheri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would amount to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total charges together Rs 1,08,900. 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 information.

Which Sub Registrar Office covers Venkatheri Nagar?

The Sub Registrar Office that covers Venkatheri 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 details.

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

The guideline value is a crucial factor in property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms. The guideline value reflects the government's assessment of property values in the area, which can influence the overall transaction process.

Frequently asked questions

What is the current guideline value of Venkatheri Nagar?

The current guideline value of Venkatheri Nagar is Rs 1,210 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 300 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024. Notably, it increased by 303% overall from 2007 to 2024.

What are the stamp duty and registration fees in Venkatheri Nagar?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Venkatheri Nagar?

The Padappai Sub Registrar Office is responsible for Venkatheri Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Venkatheri Nagar?

Venkatheri Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development under the guidelines set by the government.