Guideline Value for Venus Nagar Main Road ( Ward No.26 )

Venus Nagar Main Road ( Ward No.26 ) guideline value

The current guideline value of Venus Nagar Main Road ( Ward No.26 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Venus Nagar Main Road ( Ward No.26 ) has changed

Looking at the revisions, the guideline value for this street was Rs 1,500 per sq.ft in 2012. It decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 1,600 per sq.ft, reflecting a rise of 59%.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 7%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 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 value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Venus Nagar Main Road ( Ward No.26 ).

• Venus Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Venu St (Ward-02): Rs 1,300 per sq.ft (2024)
• Venus Nagar: Rs 1,600 per sq.ft (2024)
• Venu Nagar (Ward-2): Rs 1,300 per sq.ft (2024)
• Venu Nagar (Ward-08): Rs 1,300 per sq.ft (2024)
• Venu Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Nagar Main Road ( Ward No.26 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venus Nagar Main Road ( Ward No.26 )?

The Sub Registrar Office that covers Venus Nagar Main Road ( Ward No.26 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Venus Nagar Main Road ( Ward No.26 )?

The current guideline value of Venus Nagar Main Road ( Ward No.26 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the land classification for Venus Nagar Main Road?

Venus Nagar Main Road is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Venus Nagar Main Road?

The Sub Registrar Office for Venus Nagar Main Road is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct amount is paid during registration.