Guideline Value for VETTUVANKENI 2nd AVENUE

VETTUVANKENI 2nd AVENUE guideline value

The current guideline value of VETTUVANKENI 2nd AVENUE is Rs 4,500 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of VETTUVANKENI 2nd AVENUE has changed

The guideline value for VETTUVANKENI 2nd AVENUE has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 179 per sq.ft. This value increased significantly to Rs 750 per sq.ft in 2007, marking a 319% increase. In 2012, the value rose to Rs 4,000 per sq.ft, a substantial increase of 433% from the previous revision. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%.

From 2017 to 2023, the guideline value saw a remarkable increase of 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 set the value at Rs 4,500 per sq.ft, which is a 13% increase from 2023. Overall, from 2003 to 2024, the guideline value has increased by 2414%. The register has no figure for this street for the year 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing VETTUVANKENI 2nd AVENUE above this median.

• VETTUVANKENI 1st AVENUE: Rs 4,500 per sq.ft (2024)
• V.G.P.Golden Beach: Rs 5,000 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 per sq.ft (2024)
• Vimala Garden: Rs 3,900 per sq.ft (2024)
• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• Vivekanandar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in VETTUVANKENI 2nd AVENUE

For a 1,000 sq.ft plot at the current guideline value of Rs 4,500 per sq.ft, the total guideline value would be Rs 45,00,000. The stamp duty at 7% would be Rs 3,15,000, and the registration fee at 2% would be Rs 90,000, bringing the total to Rs 4,05,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VETTUVANKENI 2nd AVENUE?

The Sub Registrar Office covering VETTUVANKENI 2nd AVENUE is 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 information.

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

The guideline value is a crucial factor in property transactions in Enjambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It ensures that the property is registered at a value that reflects the current market conditions, thereby facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value of VETTUVANKENI 2nd AVENUE?

The current guideline value of VETTUVANKENI 2nd AVENUE is Rs 4,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 179 per sq.ft in 2003 to Rs 4,500 per sq.ft in 2024, with various increases and one decrease along the way. The most notable increase was from 2007 to 2012, which saw a rise of 433%.

What is the median guideline value in Enjambakkam?

The median guideline value for the 253 streets in Enjambakkam under the Neelankarai SRO is Rs 2,200 per sq.ft. VETTUVANKENI 2nd AVENUE's value is above this median.

What are the stamp duty and registration fees for properties in VETTUVANKENI 2nd AVENUE?

The stamp duty for properties in VETTUVANKENI 2nd AVENUE is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,05,000 based on the current guideline value.

Which office handles property registrations for VETTUVANKENI 2nd AVENUE?

The Neelankarai Sub Registrar Office handles property registrations for VETTUVANKENI 2nd AVENUE. It is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.