Guideline Value for K.V.G. Avenue Extension

K.V.G. Avenue Extension guideline value

The current guideline value of K.V.G. Avenue Extension in Sholavaram village is Rs 515 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class II Type - II.

How the guideline value of K.V.G. Avenue Extension has changed

In the 2017 revision, the guideline value for K.V.G. Avenue Extension was Rs 469 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 515 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for K.V.G. Avenue Extension is below this median.

• K.V.G.Square: Rs 710 per sq.ft (2024)
• K.V.G.Avenue: Rs 770 per sq.ft (2024)
• K.V.T. Avenue: Rs 770 per sq.ft (2024)
• K.V.T. AVENUE Extn: Rs 770 per sq.ft (2024)
• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• KUMARAN NAGAR PART VI Extn (SRIDHAR AVENUE): Rs 1,165 per sq.ft (2024)

Stamp duty and registration fee for property in K.V.G. Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 515 per sq.ft, the total guideline value would be Rs 5,15,000. The stamp duty at 7% would amount to Rs 36,050, and the registration fee at 2% would be Rs 10,300, bringing the total charges to Rs 46,350. Note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.V.G. Avenue Extension?

The K.V.G. Avenue Extension is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Sholavaram. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for K.V.G. Avenue Extension?

The current guideline value for K.V.G. Avenue Extension is Rs 515 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 10% to Rs 515 per sq.ft in 2024. The value remained unchanged at Rs 469 per sq.ft from 2017 to 2023.

What is the land classification for K.V.G. Avenue Extension?

K.V.G. Avenue Extension is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in K.V.G. Avenue Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the total charges would be Rs 46,350.