Guideline Value for VPR Avenue

VPR Avenue guideline value

The current guideline value of VPR Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of VPR Avenue has changed

The guideline value for VPR Avenue has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 233% rise. However, in the 2017 revision, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a substantial increase to Rs 2,000 per sq.ft, and finally, the 2024 revision set the current value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the guideline value of VPR Avenue.

• VPS Avenue: Rs 2,200 per sq.ft (2024)
• VPV Avenue: Rs 2,200 per sq.ft (2024)
• Yadavar street: Rs 2,200 per sq.ft (2024)
• Yogalakshmi nagar: Rs 2,200 per sq.ft (2024)
• Yogavalli nagar: Rs 2,200 per sq.ft (2024)
• Viswanathan nagar MS: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in VPR Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VPR Avenue?

The Sub Registrar Office that covers VPR Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the transaction is recorded accurately and fairly in the official documents.

When a property is sold, the buyer and seller must refer to the guideline value to calculate the necessary fees. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of VPR Avenue?

The current guideline value of VPR Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification for VPR Avenue?

VPR Avenue falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for a property in VPR Avenue?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office should I contact for registration in Poonthamallee?

The Poonamallee Sub Registrar Office is responsible for property registrations in Poonthamallee. It is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.