Guideline Value for V.K. AVENUE EXTENSION

V.K. Avenue Extension guideline value

The current guideline value of V.K. Avenue Extension in Malayambakkam village is Rs 1,210 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of V.K. Avenue Extension has changed

The guideline value for V.K. Avenue Extension has seen several revisions over the years. In 2012, the value was Rs 1,100 per sq.ft, which decreased to Rs 737 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023 and further rose to Rs 1,210 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a 10% increase in the guideline value.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value is Rs 935 per sq.ft, making V.K. Avenue Extension's current value above this median.

• V.K. Avenue: Rs 935 per sq.ft (2024)
• Vlc 7 Star Nagar: Rs 935 per sq.ft (2024)
• Vlc Saravana Highway City: Rs 1,400 per sq.ft (2024)
• V.P.Nagar: Rs 935 per sq.ft (2024)
• V.S. Vijay Nagar: Rs 880 per sq.ft (2024)
• Vijay Kabilan Avenue: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in V.K. Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total cost for these fees Rs 1,08,900. Duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.K. Avenue Extension?

The V.K. Avenue Extension falls under 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 Malayambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Malayambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price according to the official rates set by the government. This process aids in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of V.K. Avenue Extension?

The current guideline value of V.K. Avenue Extension is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for V.K. Avenue Extension?

V.K. Avenue Extension is classified as Residential Special Type - I under the current guideline value regulations.

How is stamp duty calculated for properties in V.K. Avenue Extension?

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 12,10,000, the stamp duty would be Rs 84,700.

Which office handles property registrations for V.K. Avenue Extension?

The Kunrathur Sub Registrar Office handles property registrations for V.K. Avenue Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.