Guideline Value for K.V.T. Avenue

K.V.T. Avenue guideline value

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

How the guideline value of K.V.T. Avenue has changed

The guideline value for K.V.T. Avenue has seen several revisions over the years. Starting from Rs 122 per sq.ft in 2003, it increased to Rs 400 per sq.ft in 2007, then rose significantly to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. The value then increased to Rs 700 per sq.ft in 2023, and most recently, it reached Rs 770 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 228% from 2003 to 2007, followed by a 75% increase from 2007 to 2012. It then saw a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%, and the most recent revision from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has risen by 531%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing K.V.T. Avenue's 2024 figure above that median.

• K.V.T. AVENUE Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total 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, bringing the total fees together to Rs 69,300. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.V.T. Avenue?

The Sub Registrar Office that covers K.V.T. Avenue 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 details.

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

When buying or selling property in Sholavaram, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for property transactions, ensuring that the fees are calculated based on a standardized value set by the government.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of K.V.T. Avenue 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 122 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 531% over the years.

What is the median guideline value for streets in Sholavaram?

The median guideline value for streets in Sholavaram is Rs 660 per sq.ft, with K.V.T. Avenue's value being above this median.

What are the stamp duty and registration fees for K.V.T. Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for K.V.T. Avenue?

The Redhills Sub Registrar Office handles registrations for K.V.T. Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.