Guideline Value for J C V AVENUE

J C V Avenue guideline value

The current guideline value of J C V Avenue in Vengaivasal village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Mixed Type - II land.

How the guideline value of J C V Avenue has changed

In the 2012 revision, the guideline value for J C V Avenue was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 2,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the guideline value of J C V Avenue.

• Jayalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• Ishwaryam Garden: Rs 2,700 per sq.ft (2024)
• Indira Nagar Extentsion: Rs 3,700 per sq.ft (2024)
• Indira Nagar: Rs 2,700 per sq.ft (2024)
• G.V.Nagar: Rs 2,400 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in J C V Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J C V Avenue?

The Sub Registrar Office that covers J C V Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of J C V Avenue?

The current guideline value of J C V Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for J C V Avenue?

J C V Avenue is classified as Mixed Type - II land. This classification can affect the types of developments allowed in the area.

What are the stamp duty rates for properties in J C V Avenue?

The stamp duty for properties in J C V Avenue is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for J C V Avenue?

The Selaiyur Sub Registrar Office covers J C V Avenue, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.