Guideline Value for V.P.G AVENUE 3 RD STREET

V.P.G Avenue 3 Rd Street guideline value

The current guideline value of V.P.G Avenue 3 Rd Street is Rs 3,900 per sq.ft. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of V.P.G Avenue 3 Rd Street has changed

The guideline value for V.P.G Avenue 3 Rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. However, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing V.P.G Avenue 3 Rd Street above this median value.

• V.P.G Avenue 2 Nd Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue 1 St Street: Rs 3,900 per sq.ft (2024)
• V.P.G.Avenue 4th Street: Rs 3,900 per sq.ft (2024)
• V.P.G.Avenue 5th Street: Rs 3,900 per sq.ft (2024)
• V.P.G.Avenue 6th Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in V.P.G Avenue 3 Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 more information.

Which Sub Registrar Office covers V.P.G Avenue 3 Rd Street?

The Sub Registrar Office that covers V.P.G Avenue 3 Rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of V.P.G Avenue 3 Rd Street?

The current guideline value of V.P.G Avenue 3 Rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for V.P.G Avenue 3 Rd Street?

The land classification for V.P.G Avenue 3 Rd Street is Residential Class I Type - II.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in V.P.G Avenue 3 Rd Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.P.G Avenue 3 Rd Street?

The Sub Registrar Office for V.P.G Avenue 3 Rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.