Guideline Value for V.P.G.AVENUE 5TH STREET

V.P.G.Avenue 5th Street guideline value

The current guideline value for V.P.G.Avenue 5th Street in Okkiyamthuraipakkam village, under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - II land classification.

How the guideline value of V.P.G.Avenue 5th Street has changed

The guideline value for V.P.G.Avenue 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017. However, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, followed by another increase to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year and a total increase of 49% from 2017 to 2023.

For the years 2002, 2003, and 2007, the register has no figure for V.P.G.Avenue 5th Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing V.P.G.Avenue 5th Street above this median.

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

Stamp duty and registration fee for property in V.P.G.Avenue 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.P.G.Avenue 5th Street?

The V.P.G.Avenue 5th Street 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 crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not undervalued during the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 5th Street?

The current guideline value for V.P.G.Avenue 5th 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 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for V.P.G.Avenue 5th Street?

V.P.G.Avenue 5th Street is classified as Residential Class I Type - II. This classification is important for determining the permissible uses of the land.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in V.P.G.Avenue 5th Street is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find more details through the provided links.