Guideline Value for V.M.AVENUE

V.M.Avenue guideline value

The current guideline value of V.M.Avenue is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of V.M.Avenue has changed

The guideline value for V.M.Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision has maintained this value at Rs 700 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for V.M.Avenue. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 700 per sq.ft.

Guideline values in Walajabad

In Walajabad village, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. V.M.Avenue's 2024 figure of Rs 700 per sq.ft is below this median.

• V.V.Kovil Street: Rs 1,000 per sq.ft (2024)
• W.K. Rathinavel St: Rs 750 per sq.ft (2024)
• Vinodha Nagar: Rs 1,500 per sq.ft (2024)
• W.T.Natarajan St: Rs 500 per sq.ft (2024)
• Vijaya Nagar: Rs 550 per sq.ft (2024)
• Venkatrama Pillai Srteet: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in V.M.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000. Together, the total cost for stamp duty and registration fee would be Rs 63,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers V.M.Avenue?

The Sub Registrar Office that covers V.M.Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold or bought, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.M.Avenue?

The current guideline value of V.M.Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for V.M.Avenue has remained at Rs 700 per sq.ft in the 2024 and 2023 revisions. It was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012.

What is the land classification for V.M.Avenue?

V.M.Avenue is classified as Residential Class I Type - I, which indicates its designation for residential purposes under the Walajabad SRO.

How is the stamp duty calculated for properties in V.M.Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total stamp duty would be Rs 49,000.

Where is the Sub Registrar Office for V.M.Avenue located?

The Sub Registrar Office covering V.M.Avenue is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.