Guideline Value for Venus Nagar

Venus Nagar guideline value

The current guideline value of Venus Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Venus Nagar has changed

Over the years, the guideline value for Venus Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 233% rise. However, it then dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 500 per sq.ft in the 2023 revision and continues at the same rate in 2024, showing no change from the previous year.

In summary, from 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 rate, the guideline value has increased by 233%.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Venus Nagar is below this median.

• Venkat Avenue: Rs 2,389 per sq.ft (2024)
• Vijay Avenue: Rs 700 per sq.ft (2024)
• Vasanthapuram: Rs 700 per sq.ft (2024)
• Vinayaka Nagar: Rs 700 per sq.ft (2024)
• Vishnu Priya Avenue: Rs 1,001 per sq.ft (2024)
• Vaishnavi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Venus Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Venus Nagar?

Venus Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kayirambedu. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these are assessed fairly based on the property's value.

When a property is registered, the guideline value is compared to the sale price. The higher of the two is used to determine the applicable fees, which means that understanding the guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Venus Nagar?

The current guideline value of Venus Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Venus Nagar?

Venus Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Venus Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft, the total fees would amount to Rs 45,000.