Guideline Value for Venugopal Nagar

Venugopal Nagar guideline value

The current guideline value of Venugopal Nagar in Naduveerapattu village is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Venugopal Nagar has changed

The guideline value for Venugopal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and finally rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO, with guideline values ranging from Rs 330 to Rs 2,500 per sq.ft as of 2024. The median guideline value in this area is Rs 660 per sq.ft, indicating that the guideline value of Venugopal Nagar is below the median.

• Venkatajalapathy Avenue: Rs 550 per sq.ft (2024)
• Vellalar Street: Rs 550 per sq.ft (2024)
• Vinfield Layout: Rs 550 per sq.ft (2024)
• Vinnarasi Street: Rs 660 per sq.ft (2024)
• Vanavil S.K.Avenue Part - VII: Rs 1,980 per sq.ft (2024)
• Vanavil S.K.Avenue Part - VI: Rs 1,980 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Naduveerapattu, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are aligned with government regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, helping to maintain transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Venugopal Nagar?

The current guideline value of Venugopal Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value in Naduveerapattu?

The median guideline value in Naduveerapattu is Rs 660 per sq.ft, which is higher than the current guideline value of Venugopal Nagar.

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

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

Where is the Sub Registrar Office for Venugopal Nagar located?

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