Guideline Value for Venus Nagar

Venus Nagar guideline value

The current guideline value of Venus Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Santhavellur_C village under the Sunguvarchattram SRO and 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. The 2017 revision set the value at Rs 268 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 400 per sq.ft. The 2024 revision also maintained the value at Rs 400 per sq.ft, indicating no change from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by the same percentage of 49%. This consistent value in the recent revisions highlights the stability in the guideline value for Venus Nagar.

Guideline values in Santhavellur_C

In Santhavellur_C, there are 52 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Venus Nagar is above this median.

• Vinatha Nagar: Rs 300 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 would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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, opposite Caparo Company, 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_C

The guideline value is a crucial factor during property registration in Santhavellur_C. It serves as a benchmark for determining the stamp duty and registration fees that must be paid by the buyer. This value is used to ensure that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in assessing the legal obligations related to taxes and fees. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 remained at Rs 400 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to 2023.

What is the land classification of Venus Nagar?

Venus Nagar is classified as Residential Special Type - III.

Where is the Sub Registrar Office for Venus Nagar located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Venus Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total stamp duty would be Rs 28,000 at 7% of the guideline value.