Guideline Value for VANAVIL AVENUE

Vanavil Avenue guideline value

The current guideline value of Vanavil Avenue in Melakottyur village, under the Gooduvancheri SRO, is Rs 1,000 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - III.

How the guideline value of Vanavil Avenue has changed

Over the years, the guideline value of Vanavil Avenue has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 670 per sq.ft, marking a decrease of 33%. However, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, reflecting a 49% rise from the 2017 figure.

When looking at the overall changes from 2012 to 2023, the guideline value has remained stable at Rs 1,000 per sq.ft, indicating no overall increase during this period. The register does not contain figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO. Therefore, the guideline value for Vanavil Avenue stands as the primary reference for property transactions in this area.

Stamp duty and registration fee for property in Vanavil Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, amounts to Rs 70,000, while the registration fee at 2% totals Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanavil Avenue?

The Sub Registrar Office that covers Vanavil Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, serving as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property in Melakottyur, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Accurate knowledge of these values ensures compliance with local regulations and helps in smooth property registration processes.

Frequently asked questions

What is the current guideline value of Vanavil Avenue?

The current guideline value of Vanavil Avenue is Rs 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023. Overall, from 2012 to 2023, the value has remained stable at Rs 1,000 per sq.ft.

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

For a property valued at Rs 10,00,000, the stamp duty is Rs 70,000 and the registration fee is Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Vanavil Avenue?

The Gooduvancheri Sub Registrar Office handles registrations for Vanavil Avenue. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there any guideline value for other streets in Melakottyur?

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO. The guideline value for Vanavil Avenue is the primary reference for property transactions in this area.