Guideline Value for V.G.N. Avenue

V.G.N. Avenue guideline value

The current guideline value of V.G.N. Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Chennerkuppam village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

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

Over the years, the guideline value of V.G.N. Avenue has seen significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012. However, there was a decrease to Rs 938 per sq.ft in 2017. The value then rose to Rs 1,400 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,540 per sq.ft. The changes between these revisions include an increase of 180% from 2007 to 2012, a decrease of 33% from 2012 to 2017, an increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 208%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is the same as the guideline value for V.G.N. Avenue.

• V.G. N. Road: Rs 1,540 per sq.ft (2024)
• V.N.D.Nagar: Rs 1,540 per sq.ft (2024)
• V.N.D Nagar Extension: Rs 1,540 per sq.ft (2024)
• Vanuver Veethi: Rs 1,320 per sq.ft (2024)
• Vaniyar Street: Rs 1,320 per sq.ft (2024)
• Vallaler Street: Rs 1,540 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.G.N. Avenue 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 Chennerkuppam

The guideline value is an essential factor in the registration process when buying or selling property in Chennerkuppam. It determines the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller comply with the legal requirements during the transaction.

Frequently asked questions

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

The current guideline value of V.G.N. Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting various increases and decreases through the years.

What is the registration office for V.G.N. Avenue?

The registration office for V.G.N. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 15,40,000 would incur a stamp duty of Rs 1,07,800 at 7%.

What are the land classifications in Chennerkuppam?

V.G.N. Avenue is classified as Residential Class I Type - II, which is a common classification for residential properties in the area.