Guideline Value for VITTAS POONGAVANAM AVENUE

Vittas Poongavanam Avenue guideline value

The current guideline value of Vittas Poongavanam Avenue is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Athur A Block village under the Chengleput Joint II SRO, classified as Mixed Type - I land.

How the guideline value of Vittas Poongavanam Avenue has changed

The guideline value for Vittas Poongavanam Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 402 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 600 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 600 per sq.ft, indicating stability in this period.

Guideline values in Athur A Block

Athur A Block consists of 44 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the current value of Vittas Poongavanam Avenue.

• Vetri Roals In Nandas Midas City: Rs 300 per sq.ft (2024)
• Thilagar Nagar: Rs 600 per sq.ft (2024)
• Thilagam Nagar: Rs 600 per sq.ft (2024)
• Stephy Garden: Rs 600 per sq.ft (2024)
• Sri Vijaya Nagar: Rs 600 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vittas Poongavanam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, while the registration fee at 2% would be Rs 12,000. Therefore, the total cost for stamp duty and registration would be Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vittas Poongavanam Avenue?

The Sub Registrar Office that covers Vittas Poongavanam Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value plays a crucial role during the registration of property transactions in Athur A Block. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs when transferring property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to prevent undervaluation. This process is important for maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vittas Poongavanam Avenue?

The current guideline value of Vittas Poongavanam Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. There was no change from 2023 to 2024.

Which Sub Registrar Office covers this area?

The Chengleput Joint II Sub Registrar Office covers Vittas Poongavanam Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 54,000.

What is the land classification of Vittas Poongavanam Avenue?

The land classification of Vittas Poongavanam Avenue is Mixed Type - I, which indicates the type of development permitted in this area.