Guideline Value for V.V.Nagar

V.V.Nagar guideline value

The current guideline value of V.V.Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

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

The guideline value for V.V.Nagar has seen several revisions over the years. Starting from Rs 30 per sq.ft in 2003, it increased significantly to Rs 150 per sq.ft in 2007, marking a 400% rise. The value then jumped to Rs 1,500 per sq.ft in 2012, reflecting a massive increase of 900%. However, it dropped to Rs 1,005 per sq.ft in 2017, which was a decrease of 33%. The next revision in 2023 saw it rise to Rs 1,500 per sq.ft, followed by the current rate of Rs 1,650 per sq.ft in 2024, representing a 10% increase.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 5400%.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of V.V.Nagar.

• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 accurate calculations.

Which Sub Registrar Office covers V.V.Nagar?

The Sub Registrar Office that covers V.V.Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovur. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring transparency in transactions.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.V.Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 30 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, marking a total increase of 5400% over this period.

What is the land classification for V.V.Nagar?

V.V.Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in V.V.Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.