Guideline Value for V.P.G.AVENUE 6TH STREET

V.P.G.Avenue 6th Street guideline value

The current guideline value of V.P.G.Avenue 6th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of V.P.G.Avenue 6th Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 3,500 per sq.ft, followed by another increase in the 2024 revision to Rs 3,900 per sq.ft, reflecting an 11% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register does not have 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 is Rs 3,300 per sq.ft, positioning V.P.G.Avenue 6th Street above this median value.

• V.P.G Avenue Extension: 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 Main Road: 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 6th 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 fees together to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.P.G.Avenue 6th Street?

The V.P.G.Avenue 6th Street 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of V.P.G.Avenue 6th Street?

The current guideline value of V.P.G.Avenue 6th 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 seen several revisions, with the most recent increase of 11% from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 11%.

What is the stamp duty rate for properties in V.P.G.Avenue 6th Street?

The stamp duty rate for properties in V.P.G.Avenue 6th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with V.P.G.Avenue 6th Street's value being above this median at Rs 3,900 per sq.ft.