Guideline Value for VILLA AVENUE

Villa Avenue guideline value

The current guideline value of Villa Avenue in Kattoor village is Rs 300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruporur SRO and is classified as Residential Class II Type - I.

How the guideline value of Villa Avenue has changed

The guideline value for Villa Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. Following this, the 2023 revision returned the value to Rs 300 per sq.ft, and the latest 2024 revision has also maintained this figure, resulting in no percentage change from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattoor

Kattoor village has 22 streets under the Thiruporur SRO with a 2024 guideline value ranging from Rs 250 to Rs 1,493 per sq.ft. The median value for these streets is Rs 749 per sq.ft, placing Villa Avenue's 2024 figure below this median.

• Vip City In Life On Green: Rs 1,493 per sq.ft (2024)
• V.G.P Gold Chip: Rs 1,269 per sq.ft (2024)
• Sterling Sundara Pandiam: Rs 602 per sq.ft (2024)
• Sri Uthira Vaidhiya Lingeswarar Nagar: Rs 600 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 250 per sq.ft (2024)
• Sri Arumugam Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Villa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Villa Avenue?

The Sub Registrar Office covering Villa Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kattoor. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Villa Avenue?

The current guideline value of Villa Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 300 per sq.ft from 2012 to 2024, with a previous drop to Rs 201 per sq.ft in 2017 and a return to Rs 300 per sq.ft in 2023.

What is the land classification for Villa Avenue?

Villa Avenue is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

The Sub Registrar Office for Villa Avenue is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for properties in Villa Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total fees would amount to Rs 27,000.