Guideline Value for V.B.R.Avenue Extn

V.B.R.Avenue Extn guideline value

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

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

The guideline value for V.B.R.Avenue Extn has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the most notable change was from 2007 to 2012, where the value surged by 900%. Following that, from 2012 to 2017, there was a decrease of 33%. The increase from 2017 to 2023 was substantial at 49%. Overall, from 2007 to 2024, the guideline value has increased by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kovur

Kovur village features a range of guideline values across its 91 streets under the Kunrathur SRO, with values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value of V.B.R.Avenue Extn.

• V.B.R. Avenue: 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 Extn

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 fees to Rs 1,48,500. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers V.B.R.Avenue Extn?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Kovur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The stamp duty is applied to the higher of the two values, ensuring that the transaction is registered at a fair value in accordance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of V.B.R.Avenue Extn 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 150 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1000% over the years.

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

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in V.B.R.Avenue Extn is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can visit this office for registration-related services.