Guideline Value for Venugopalapuram

Venugopalapuram guideline value

The current guideline value of Venugopalapuram is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Venugopalapuram has changed

The guideline value for Venugopalapuram has seen significant changes over the years. In 2002, the value was Rs 328 per sq.ft, which rose to Rs 373 per sq.ft in 2003. The value increased to Rs 1,200 per sq.ft in 2007, followed by a jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the current revision for 2024 is Rs 3,900 per sq.ft.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. The value then rose by 11% from 2023 to 2024. The most significant increase occurred from 2007 to 2012, with a rise of 192%. Overall, from 2002 to 2024, the guideline value has increased by 1089%.

Guideline values in Nanganallur

Nanganallur village has 155 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with the median set at Rs 3,900 per sq.ft. The guideline value for Venugopalapuram matches this median.

• Vembuli Amman Koil 2nd Lane: Rs 3,300 per sq.ft (2024)
• Vembuli Amman Koil 1st Lane: Rs 3,300 per sq.ft (2024)
• Veeraragavan (lane) Street: Rs 4,400 per sq.ft (2024)
• Veeramamunivar Street: Rs 2,800 per sq.ft (2024)
• Vishwanathapuram: Rs 4,400 per sq.ft (2024)
• T N G O COLONY 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Venugopalapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Venugopalapuram?

Venugopalapuram falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nanganallur. It is used to calculate the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and duty is charged on the higher of the two. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Venugopalapuram?

The current guideline value of Venugopalapuram is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1089% over this period.

What are the stamp duty rates for property in Venugopalapuram?

The stamp duty rate for property transactions in Venugopalapuram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Venugopalapuram?

The Alandur Sub Registrar Office handles registrations for Venugopalapuram, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur for 2024 is Rs 3,900 per sq.ft, with values ranging from Rs 2,800 to Rs 6,600 per sq.ft across 155 streets.