Guideline Value for V.G.N Lakshmi Avenue

V.G.N Lakshmi Avenue guideline value

The current guideline value of V.G.N Lakshmi Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

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

The guideline value for V.G.N Lakshmi Avenue has seen several revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then to Rs 3,520 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The overall change from 2012 to 2024 shows an increase of 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for V.G.N Lakshmi Avenue is above this median.

• V.G.N. Brindavan Garden Extension: Rs 3,520 per sq.ft (2024)
• V.G.N. Blooming Garden: Rs 3,520 per sq.ft (2024)
• Vgn Royal Court: Rs 2,970 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Viswanathan Palani Street: Rs 2,860 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total fees together Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.G.N Lakshmi Avenue?

The V.G.N Lakshmi Avenue is covered by 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 Mogalivakkam

The guideline value is a crucial factor in property transactions, as it determines the baseline for stamp duty and registration fees. When buying or selling a property in Mogalivakkam, the guideline value serves as a reference point to ensure that the transaction is registered at a fair value.

At the time of registration, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. 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 Lakshmi Avenue?

The current guideline value of V.G.N Lakshmi Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification of V.G.N Lakshmi Avenue?

V.G.N Lakshmi Avenue is classified as Mixed Special Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which registration office covers this street?

The Kunrathur Sub Registrar Office covers V.G.N Lakshmi Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.