Guideline Value for V.V. Avenue

V.V. Avenue guideline value

The current guideline value of V.V. Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of V.V. Avenue has changed

The guideline value for V.V. Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 119 per sq.ft. This increased to Rs 147 per sq.ft in 2003, marking a rise of 24%. The value continued to rise, reaching Rs 400 per sq.ft in 2007, which was an increase of 172%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 2,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year. There are no figures available for other years regarding this street in the register.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of V.V. Avenue is below this median.

• Well Street (Ethirajapuram): Rs 3,300 per sq.ft (2024)
• West Street: Rs 3,300 per sq.ft (2024)
• V.O.C. Street: Rs 6,600 per sq.ft (2024)
• Vishnu Nagar extn: Rs 2,200 per sq.ft (2024)
• Vishnu Nagar: Rs 2,200 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.V. Avenue?

The Sub Registrar Office that covers V.V. Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tambaram. This value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the minimum value on which these fees are calculated. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the transaction process.

Frequently asked questions

What is the current guideline value of V.V. Avenue?

The current guideline value of V.V. Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value of V.V. Avenue changed over the years?

The guideline value has changed from Rs 119 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 1749% over the years.

What is the classification of land on V.V. Avenue?

V.V. Avenue is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

What are the stamp duty and registration fees for property in V.V. Avenue?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot is Rs 1,98,000 in total for these fees.

Which office handles the registration for V.V. Avenue?

The Tambaram Joint 1 Sub Registrar Office handles the registration for V.V. Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.