Guideline Value for venkatesvara nagar

Venkatesvara Nagar guideline value

The current guideline value for Venkatesvara Nagar is Rs 1,000 per sq.ft. This area is located in Vallam village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Venkatesvara Nagar has changed

Since the 2012 revision, the guideline value for Venkatesvara Nagar has seen fluctuations. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft. However, the value rebounded to Rs 1,000 per sq.ft in the 2023 revision, and it remained the same in the 2024 revision, showing no percentage change from the previous year.

Looking back further, the 2017 revision represented a 49% increase from the 2012 value. The guideline value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 1,000 per sq.ft.

Guideline values in Vallam

In Vallam village, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which is the same as the guideline value for Venkatesvara Nagar.

• Vallalar Street: Rs 750 per sq.ft (2024)
• Thirumalai Govinthan Nagar: Rs 750 per sq.ft (2024)
• TGM Nagar: Rs 850 per sq.ft (2024)
• Sri Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• Sri Balaji Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesvara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost for these fees Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Venkatesvara Nagar?

The Sub Registrar Office that covers Venkatesvara Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallam. It determines the minimum value at which a property must be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects a fair value for the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of Venkatesvara Nagar?

The current guideline value of Venkatesvara Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft since the 2023 revision, with a significant drop to Rs 670 per sq.ft in 2017 from Rs 1,000 in 2012. Overall, the value has not changed from 2012 to 2024.

What are the other streets in Vallam with their guideline values?

In Vallam, other streets have varying guideline values ranging from Rs 750 to Rs 1,000 per sq.ft. Notably, Vallalar Street and Thirumalai Govinthan Nagar are valued at Rs 750 per sq.ft, while Sri Venkatesvara Nagar and Sri Ram Nagar are at Rs 1,000 per sq.ft.

How is stamp duty calculated in Venkatesvara Nagar?

Stamp duty in Venkatesvara Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft incurs a stamp duty of Rs 70,000.

Where can I find the Sub Registrar Office for Venkatesvara Nagar?

The Sub Registrar Office for Venkatesvara Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.