Guideline Value for Venus nagar verivakkam

Venus nagar verivakkam guideline value

The current guideline value of Venus nagar verivakkam is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village and falls under the Poonamallee SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Venus nagar verivakkam has changed

The guideline value for Venus nagar verivakkam has seen significant changes over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased dramatically to Rs 1,000 per sq.ft in 2012, marking a rise of 567%. However, the value dropped to Rs 670 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,100 per sq.ft, a rise of 10%.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 633% from Rs 150 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Venus nagar verivakkam is below this median.

• Venus nagar: Rs 1,100 per sq.ft (2024)
• Venus Avenue: Rs 1,100 per sq.ft (2024)
• Venkateswara nagar: Rs 1,100 per sq.ft (2024)
• Veetrirundha perumal koil street: Rs 1,100 per sq.ft (2024)
• Vasa nagar: Rs 1,100 per sq.ft (2024)
• Vaithee Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Venus nagar verivakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. 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 detailed calculations.

Which Sub Registrar Office covers Venus nagar verivakkam?

The Sub Registrar Office covering Venus nagar verivakkam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumazhisai. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies in payment.

When a property is sold, the guideline value helps in establishing the minimum price at which the property can be registered. This ensures transparency in transactions and helps in the assessment of taxes associated with property transfers.

Frequently asked questions

What is the current guideline value of Venus nagar verivakkam?

The current guideline value of Venus nagar verivakkam is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 633%.

What are the stamp duty and registration fees for properties in Venus nagar verivakkam?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Venus nagar verivakkam?

The Poonamallee Sub Registrar Office handles registrations for Venus nagar verivakkam, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Venus nagar verivakkam?

The land classification for Venus nagar verivakkam is Residential Special Type - I.