Guideline Value for Venugopal Swamy Nagar Extn

Venugopal Swamy Nagar Extn guideline value

The current guideline value of Venugopal Swamy Nagar Extn is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Venugopal Swamy Nagar Extn has changed

Over the years, the guideline value of Venugopal Swamy Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the current 2024 revision has further raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Venugopal Swamy Nagar Extn above this median with its current value of Rs 2,700 per sq.ft.

• Venugopal Street: Rs 1,300 per sq.ft (2024)
• Venugopal Nagar Extn.: Rs 1,900 per sq.ft (2024)
• 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 Nagar: Rs 1,300 per sq.ft (2024)

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

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

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Venugopal Swamy Nagar Extn?

The Venugopal Swamy Nagar Extn is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 in Chembakkam. It serves as the minimum value for property transactions, ensuring that the sale price is not below this benchmark.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Venugopal Swamy Nagar Extn 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and currently to Rs 2,700 per sq.ft in 2024.

What is the land classification of Venugopal Swamy Nagar Extn?

Venugopal Swamy Nagar Extn is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Venugopal Swamy Nagar Extn located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.