Guideline Value for V.G.N Pratish Avenue

V.G.N Pratish Avenue guideline value

The current guideline value of V.G.N Pratish Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village, under the Pammal SRO, and is classified as Commercial Class I Type - I.

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

Over the years, the guideline value of V.G.N Pratish Avenue has seen significant changes. The 2017 revision recorded a value of Rs 1,742 per sq.ft. This increased to Rs 2,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,860 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the current 2024 figure, there has been a 64% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing V.G.N Pratish Avenue above this median.

• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)
• Vgn Krona Phase-2: Rs 2,860 per sq.ft (2024)
• V.G.N. Krona Avenue: Rs 2,860 per sq.ft (2024)
• Vignesh Nagar: Rs 1,980 per sq.ft (2024)
• Vigneshwara Nagar (ward 6): Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total fees together to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.G.N Pratish Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that all transactions are recorded at a fair rate.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable fees, such as stamp duty and registration charges. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

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

The current guideline value of V.G.N Pratish Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of V.G.N Pratish Avenue has increased from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024, representing a 64% overall increase.

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

V.G.N Pratish Avenue is classified as Commercial Class I Type - I.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in V.G.N Pratish Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200.