Guideline Value for V.G.N. Krona Avenue

V.G.N. Krona Avenue guideline value

The current guideline value of V.G.N. Krona 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. Krona Avenue has changed

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

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that 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 guideline value for these streets is Rs 2,200 per sq.ft, placing V.G.N. Krona Avenue's 2024 figure above that median.

• Vgn Krona Phase-2: Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)
• Vignesh Nagar: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total cost for these fees 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.

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

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

The V.G.N. Krona Avenue is covered by 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 an important factor when registering property in Kerugambakkam. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers as it impacts the overall cost of property transactions. It ensures that the correct fees are paid to the government during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,742 per sq.ft to Rs 2,860 per sq.ft in 2024, an overall increase of 64%.

What is the stamp duty for property in V.G.N. Krona Avenue?

The stamp duty for property in V.G.N. Krona Avenue is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.G.N. Krona Avenue?

The Sub Registrar Office covering V.G.N. Krona Avenue is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

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