Guideline Value for VANAVIL AVENUE

Vanavil Avenue guideline value

The current guideline value of Vanavil Avenue in Perungalathur village, under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - I land classification.

How the guideline value of Vanavil Avenue has changed

The guideline value for Vanavil Avenue has seen significant changes over the years. The earliest recorded revision was in 2017, when the guideline value was Rs 2,412 per sq.ft. This figure increased to Rs 3,600 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 3,960 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Vanavil Avenue.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Vanavil Avenue's 2024 figure above that median.

• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• Valmiki Street: Rs 2,310 per sq.ft (2024)
• Varadarasan Street: Rs 2,310 per sq.ft (2024)
• Varadha Nagar: Rs 3,120 per sq.ft (2024)
• Varadhan Street: Rs 2,310 per sq.ft (2024)
• Vallalar Street: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Vanavil Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanavil Avenue?

The Sub Registrar Office that covers Vanavil Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Perungalathur. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Vanavil Avenue?

The current guideline value of Vanavil Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,412 per sq.ft in 2017 to Rs 3,960 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Vanchinathan Theru, Valmiki Street, Varadarasan Street, Varadha Nagar, Varadhan Street, and Vallalar Street, with guideline values ranging from Rs 2,310 to Rs 3,120 per sq.ft in 2024.

What are the fees associated with buying property in Vanavil Avenue?

The fees associated with buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vanavil Avenue?

The Sub Registrar Office for Vanavil Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.