Guideline Value for V.P.G AVENUE MAIN ROAD

V.P.G Avenue Main Road guideline value

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

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

The guideline value for V.P.G Avenue Main Road has seen several revisions over the years. The earliest recorded value was Rs 3,500 per sq.ft in 2012, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft in 2024. The register has no figures for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

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, making V.P.G Avenue Main Road's current value of Rs 3,900 per sq.ft higher than the median.

• V.P.G Avenue Extension: Rs 3,900 per sq.ft (2024)
• 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 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 Main Road

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 be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.P.G Avenue Main Road?

The V.P.G Avenue Main Road falls under 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

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. It is essential to consider the guideline value as it reflects the official value assigned to the property by the registration department.

During the registration process, the guideline value is used to calculate the applicable duties and fees, ensuring that all transactions comply with legal requirements. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the duties.

Frequently asked questions

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

The current guideline value of V.P.G Avenue Main Road 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 is now Rs 3,900 per sq.ft in 2024.

What is the land classification of V.P.G Avenue Main Road?

V.P.G Avenue Main Road is classified as Residential Class I Type - II under the Neelankarai SRO.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this area?

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