Guideline Value for V.P.G AVENUE EXTENSION

V.P.G Avenue Extension guideline value

The current guideline value of V.P.G Avenue Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of V.P.G Avenue Extension has changed

The guideline value for V.P.G Avenue Extension has seen several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft. This decreased to Rs 2,345 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and then further rose to Rs 3,900 per sq.ft in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The most notable change occurred between 2017 and 2023, where there was a 49% increase. 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 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making V.P.G Avenue Extension's 2024 figure of Rs 3,900 per sq.ft above the median.

• V.P.G.Avenue 6th 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 Main Road: Rs 3,900 per sq.ft (2024)
• V.P.G.Avenue 4th Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue 3 Rd Street: Rs 3,900 per sq.ft (2024)
• V.P.G Avenue 2 Nd Street: Rs 3,900 per sq.ft (2024)

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

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, totaling Rs 3,51,000. 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 details.

Which Sub Registrar Office covers V.P.G Avenue Extension?

The V.P.G Avenue Extension is covered by 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 information.

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

The guideline value is a key factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of V.P.G Avenue Extension 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 Extension?

V.P.G Avenue Extension is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Which office handles registrations for V.P.G Avenue Extension?

The Neelankarai Sub Registrar Office handles registrations for V.P.G Avenue Extension, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.