Guideline Value for VGN AVIV ENCLAVE

Vgn Aviv Enclave guideline value

The current guideline value of Vgn Aviv Enclave, located in Paleripattu village under the Avadi SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - III.

How the guideline value of Vgn Aviv Enclave has changed

Looking at the revisions over the years, the guideline value for Vgn Aviv Enclave has seen several changes. In the 2012 revision, the value was Rs 2,200 per sq.ft. This dropped significantly to Rs 1,474 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose to Rs 2,200 per sq.ft, reflecting an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year of Rs 2,200 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, making Vgn Aviv Enclave's 2024 figure of Rs 2,420 per sq.ft significantly above this median.

• V.G.N.Royal Enclave: Rs 1,950 per sq.ft (2024)
• Venkateswara Oil Mill St: Rs 990 per sq.ft (2024)
• Velayudham St: Rs 1,980 per sq.ft (2024)
• Varadharajan St: Rs 990 per sq.ft (2024)
• Zahir Hussain Street: Rs 803 per sq.ft (2024)
• Thiruvallur St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Aviv Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vgn Aviv Enclave?

The Sub Registrar Office that covers Vgn Aviv Enclave is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Paleripattu, the guideline value is a crucial factor used for calculating stamp duty and registration fees. It serves as a reference point to determine the fair value of the property being transacted.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vgn Aviv Enclave?

The current guideline value of Vgn Aviv Enclave is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then up to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification of Vgn Aviv Enclave?

Vgn Aviv Enclave is classified as Commercial Special Type - III, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for property in Vgn Aviv Enclave?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,17,800.

Which office handles the registration for Vgn Aviv Enclave?

The registration for Vgn Aviv Enclave is handled by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.