Guideline Value for Venugopal Nagar Extn.

Venugopal Nagar Extn. guideline value

The current guideline value of Venugopal Nagar Extn. is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Venugopal Nagar Extn. has changed

The guideline value for Venugopal Nagar Extn. has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 450 per sq.ft. This value increased significantly to Rs 1,800 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 1,206 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 1,800 per sq.ft in 2023, followed by another increase to the current value of Rs 1,900 per sq.ft in 2024, reflecting a 6% rise.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Venugopal Nagar Extn.'s value below this median.

• Venugopal Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Venugopal Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar: Rs 1,300 per sq.ft (2024)
• Venugopal 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value is Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total fees Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal Nagar Extn.?

The Sub Registrar Office covering Venugopal Nagar Extn. is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venugopal Nagar Extn.?

The current guideline value of Venugopal Nagar Extn. is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 322% over the years.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Venugopal Nagar Extn.?

The Selaiyur Sub Registrar Office handles property registrations for Venugopal Nagar Extn., located in East Tambaram, Chennai.

Where can I find more information on stamp duty and registration fees?

More information on stamp duty and registration fees can be found using the stamp duty and registration fee calculator.