Guideline Value for V.G.N Avenue Phase I

V.G.N Avenue Phase I guideline value

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

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

The guideline value for V.G.N Avenue Phase I has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 333%. However, between 2012 and 2017, the value decreased to Rs 4,355 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, followed by the current rate of Rs 7,100 per sq.ft in 2024, an increase of 9%.

Overall, from 2007 to 2024, the guideline value has increased by 373%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value of V.G.N Avenue Phase I.

• V.G.N.Avenue Phase 2: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue: Rs 7,100 per sq.ft (2024)
• Veyalate Flats: Rs 7,100 per sq.ft (2024)
• Venugobal Samy Street @ Venugopal Street: Rs 7,100 per sq.ft (2024)
• V.G.P.Nagar: Rs 7,100 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)

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

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, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers V.G.N Avenue Phase I is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 7,100 per sq.ft in 2024, marking an overall increase of 373%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 71,00,000, resulting in a stamp duty of Rs 4,97,000 and a registration fee of Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for V.G.N Avenue Phase I?

The Konnur Sub Registrar Office handles registrations for V.G.N Avenue Phase I, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value determined for properties in Mugappair?

The guideline value for properties in Mugappair is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.