Guideline Value for V.B.R. Avenue

V.B.R. Avenue guideline value

The current guideline value of V.B.R. Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

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

The guideline value for V.B.R. Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,500 per sq.ft. The most recent 2024 revision has further increased the value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovur

In Kovur village, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of V.B.R. Avenue.

• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)
• Vadavandai Madaveethi Street: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 V.B.R. Avenue?

The Sub Registrar Office that covers V.B.R. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of V.B.R. Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,005 per sq.ft in 2017, which means there was a significant increase of 49% to reach the 2023 figure.

What is the land classification for V.B.R. Avenue?

V.B.R. Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for V.B.R. Avenue?

The registration office covering V.B.R. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in V.B.R. Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.