Guideline Value for Venus Nagar

Venus Nagar guideline value

The current guideline value of Venus Nagar, located in Santhavellur village under the Sunguvarchattram SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land is classified as Residential Special Type - III.

How the guideline value of Venus Nagar has changed

The guideline value for Venus Nagar has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision has maintained this figure, resulting in a 0% change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 2,800 per sq.ft. The median value for these streets is Rs 500 per sq.ft, indicating that Venus Nagar's 2024 figure is below this median.

• Vinatha Nagar: Rs 305 per sq.ft (2024)
• Vasuki nagar: Rs 700 per sq.ft (2024)
• Vasavi Nagar: Rs 700 per sq.ft (2024)
• varasithi Vinayagar Street: Rs 200 per sq.ft (2024)
• VMR Nagar: Rs 200 per sq.ft (2024)
• Sunguvarchitram Walajabad Main Road: Rs 1,750 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total cost Rs 36,000. 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 further calculations.

Which Sub Registrar Office covers Venus Nagar?

The Sub Registrar Office that covers Venus Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Santhavellur. It is used to determine the stamp duty and registration fees applicable to the transaction. The guideline value ensures that the property is assessed accurately for taxation purposes.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Venus Nagar?

The current guideline value of Venus Nagar is Rs 400 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 back to Rs 400 per sq.ft in 2023 and 2024. There are no figures for the years 2002, 2003, and 2007.

What is the median guideline value in Santhavellur?

The median guideline value in Santhavellur for 2024 is Rs 500 per sq.ft, indicating that Venus Nagar's value is below this median.

What are the stamp duty and registration fees for Venus Nagar?

For a property valued at Rs 4,00,000 in Venus Nagar, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Venus Nagar located?

The Sub Registrar Office for Venus Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.