Guideline Value for K.V.T. AVENUE Extn

K.V.T. AVENUE Extn guideline value

The current guideline value of K.V.T. AVENUE Extn is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of K.V.T. AVENUE Extn has changed

Over the years, the guideline value of K.V.T. AVENUE Extn has seen several revisions. In 2012, the guideline value was set at Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 700 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 770 per sq.ft, marking a 10% rise from the previous year.

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

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 of K.V.T. AVENUE Extn is above this median.

• K.V.T. Avenue: Rs 770 per sq.ft (2024)
• K.V.G.Square: Rs 710 per sq.ft (2024)
• K.V.G. Avenue Extension: Rs 515 per sq.ft (2024)
• K.V.G.Avenue: 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.T. AVENUE Extn

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers K.V.T. AVENUE Extn?

The Sub Registrar Office that covers K.V.T. AVENUE Extn is 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 when buying or selling property in Sholavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When you proceed with a transaction, the guideline value ensures that the property is registered at a fair value, which is essential for both the buyer and seller. It helps to maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of K.V.T. AVENUE Extn?

The current guideline value of K.V.T. AVENUE Extn is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for K.V.T. AVENUE Extn?

K.V.T. AVENUE Extn is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for K.V.T. AVENUE Extn?

The Sub Registrar Office for K.V.T. AVENUE Extn is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 69,300.