Guideline Value for V.G.N Avenue Phase IV

V.G.N Avenue Phase IV guideline value

The current guideline value of V.G.N Avenue Phase IV is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of V.G.N Avenue Phase IV has changed

The guideline value for V.G.N Avenue Phase IV has seen significant changes over the years. The 2017 revision set the value at Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 63%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, highlighting the substantial growth in the guideline value over this period.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of V.G.N Avenue Phase IV.

• V.G.N.Aster: Rs 7,100 per sq.ft (2024)
• V.G.N Enclave: Rs 7,100 per sq.ft (2024)
• V.G.N Garden: Rs 7,100 per sq.ft (2024)
• V.G.N LA Parisienme: Rs 7,100 per sq.ft (2024)
• V.G.N Minaurva: Rs 7,100 per sq.ft (2024)
• V.G.N. Monte Carlo: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N Avenue Phase IV

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.N Avenue Phase IV?

The Sub Registrar Office that covers V.G.N Avenue Phase IV is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor during property registration in 1. Nolambur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs that must be paid during the registration process. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of V.G.N Avenue Phase IV?

The current guideline value of V.G.N Avenue Phase IV is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024. This represents a total increase of 63% from 2017 to 2024.

What is the land classification for V.G.N Avenue Phase IV?

V.G.N Avenue Phase IV is classified as Residential Special Type - I, indicating its designation for residential development.

What are the stamp duty and registration fees for properties in V.G.N Avenue Phase IV?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000. These fees are calculated based on the guideline value.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. This office handles property registrations for the area.