Guideline Value for Venugopal Nagar

Venugopal Nagar guideline value

The current guideline value of Venugopal Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Venugopal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. The 2024 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 8%. The register does not provide figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Venugopal Nagar's 2024 figure below that median.

• Venugopal Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Venugopal Nagar (Ward-09): Rs 1,300 per sq.ft (2024)
• Venugopal Nagar ( Ward No.8 ): Rs 1,300 per sq.ft (2024)
• Venue Nagar Cross St ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Venu Nagar: Rs 1,300 per sq.ft (2024)
• Venu Nagar (Ward-08): Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venugopal Nagar?

The Sub Registrar Office that covers Venugopal Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Venugopal Nagar?

The current guideline value of Venugopal Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There were no changes recorded for the years 2003, 2007, and 2017 for this street.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft. Venugopal Nagar's 2024 guideline value of Rs 1,300 per sq.ft is below this median.

What are the stamp duty and registration fees for properties in Venugopal Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Venugopal Nagar.