Guideline Value for V.N.T. Avenue

V.N.T. Avenue guideline value

The current guideline value of V.N.T. Avenue in Madanandapuram village, under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

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

The guideline value for V.N.T. Avenue has seen several revisions over the years. In 2007, the value was set at Rs 960 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value dropped to Rs 2,144 per sq.ft, a decrease of 33%. The next revision in 2023 saw the value rise to Rs 3,200 per sq.ft, followed by the current value of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for V.N.T. Avenue in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which is equal to the current guideline value for V.N.T. Avenue.

• V.N.P. Avenue: Rs 3,520 per sq.ft (2024)
• Vignesh Nagar: Rs 3,190 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,190 per sq.ft (2024)
• Venkatesan Nagar Annuxe: Rs 3,190 per sq.ft (2024)
• Venkatesan Nagar: Rs 3,190 per sq.ft (2024)
• Vasuki Nagar: Rs 3,520 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.N.T. 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 Madanandapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Madanandapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps in maintaining a fair and regulated property market.

Frequently asked questions

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

The current guideline value of V.N.T. Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 960 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in V.N.T. Avenue?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

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

The Kunrathur Sub Registrar Office covers V.N.T. Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for V.N.T. Avenue?

V.N.T. Avenue is classified as Residential Special Type - II according to the guideline value register.