Guideline Value for Venugopal Nagar

Venugopal Nagar guideline value

The current guideline value of Venugopal Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,700 per sq.ft, effective from the 2024 revision, which will be in place from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Venugopal Nagar has changed

The guideline value of Venugopal Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 106 per sq.ft. It increased to Rs 125 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. The value then jumped dramatically to Rs 2,500 per sq.ft in 2012, before decreasing to Rs 1,675 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the latest revision for 2024 set the value at Rs 2,700 per sq.ft.

Examining the changes between these revisions, from 2002 to 2024, there has been a total increase of 2,447%. Notably, the transition from 2012 to 2017 saw a decrease of 33%, while the increase from 2017 to 2023 was 49%. The most significant rise occurred between 2007 and 2012, with an increase of 525%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Venugopal Nagar's 2024 figure above this median.

• Venugopal Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Venugopal Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Venkteswara Street (Ward No.9): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venugopal Nagar?

The Sub Registrar Office that covers Venugopal Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal. When buying or selling property, this value is used to determine the stamp duty and registration fees that are applicable. It ensures that the transaction is recorded at a value that reflects the current market conditions as established by the Registration Department.

During the registration process, the guideline value will be assessed to calculate the necessary fees. Buyers should be aware that they will need to pay stamp duty based on the higher of the guideline value or the sale price, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Venugopal Nagar?

The current guideline value of Venugopal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 106 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 2,447%.

What are the stamp duty rates for properties in Venugopal Nagar?

The stamp duty for properties in Venugopal Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Venugopal Nagar?

The Sub Registrar Office for Venugopal Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Venugopal Nagar?

Venugopal Nagar is classified as Residential Special Type - II, which influences its guideline value and property transactions in the area.