Guideline Value for B.V.AVENUE

B.V.Avenue guideline value

The current guideline value of B.V.Avenue in Okkiyamthuraipakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of B.V.Avenue has changed

The guideline value for B.V.Avenue has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% rise. However, this value decreased to Rs 1,340 per sq.ft in the 2017 revision, reflecting a 33% decline. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 2,200 per sq.ft, a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%, showcasing significant fluctuations in value over the years.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, positioning B.V.Avenue's 2024 figure below this median.

• C.B.S.Nagar: Rs 2,800 per sq.ft (2024)
• Central Excise Customs Colony: Rs 6,100 per sq.ft (2024)
• Brindavan Garden: Rs 3,300 per sq.ft (2024)
• Boundary Salai: Rs 6,100 per sq.ft (2024)
• Chandrasekaran Avenue: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in B.V.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers B.V.Avenue?

B.V.Avenue is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For further information, you can find your SRO.

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

The guideline value is a crucial reference point during property transactions in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is advisable to consult the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of B.V.Avenue?

The current guideline value of B.V.Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for properties in B.V.Avenue?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers B.V.Avenue?

The Neelankarai Sub Registrar Office covers B.V.Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value for the 453 streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is above the current value of B.V.Avenue.